Shenandoah Telecommunications (NASDAQ:SHEN) Shares Bought by Inspire Investing LLC

Inspire Investing LLC boosted its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 34.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 28,988 shares of the utilities provider’s stock after purchasing an additional 7,407 shares during the quarter. Inspire Investing LLC’s holdings in Shenandoah Telecommunications were worth $409,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Shenandoah Telecommunications by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after acquiring an additional 51,697 shares in the last quarter. GCM Grosvenor Holdings LLC acquired a new stake in Shenandoah Telecommunications during the second quarter valued at $66,959,000. Dimensional Fund Advisors LP increased its holdings in Shenandoah Telecommunications by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock valued at $42,070,000 after buying an additional 29,413 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Shenandoah Telecommunications by 8.3% in the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock worth $16,203,000 after acquiring an additional 71,451 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Shenandoah Telecommunications by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock worth $7,621,000 after acquiring an additional 13,776 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Insider Transactions at Shenandoah Telecommunications

In related news, CEO Christopher E. French purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $14.02 per share, with a total value of $70,100.00. Following the completion of the acquisition, the chief executive officer now owns 86,485 shares in the company, valued at $1,212,519.70. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Edward H. Mckay purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the acquisition, the chief operating officer now directly owns 68,951 shares of the company’s stock, valued at approximately $975,656.65. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. French acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $14.02 per share, for a total transaction of $70,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,485 shares of the company’s stock, valued at $1,212,519.70. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,700 shares of company stock worth $212,745 in the last ninety days. Insiders own 4.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday, August 8th.

Shenandoah Telecommunications Stock Performance

NASDAQ SHEN opened at $14.01 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $14.47 and its 200-day simple moving average is $16.03. The company has a market cap of $764.53 million, a PE ratio of 3.46 and a beta of 0.67. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The business had revenue of $85.80 million for the quarter, compared to analysts’ expectations of $86.12 million. Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. As a group, equities research analysts anticipate that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.