DAVENPORT & Co LLC Sells 27,946 Shares of Shenandoah Telecommunications Co $SHEN

DAVENPORT & Co LLC cut its holdings in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 953,410 shares of the utilities provider’s stock after selling 27,946 shares during the quarter. DAVENPORT & Co LLC’s holdings in Shenandoah Telecommunications were worth $13,042,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Shenandoah Telecommunications by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after buying an additional 1,248 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Shenandoah Telecommunications by 3.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 42,600 shares of the utilities provider’s stock valued at $535,000 after acquiring an additional 1,500 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Shenandoah Telecommunications by 7.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 27,414 shares of the utilities provider’s stock valued at $374,000 after acquiring an additional 2,000 shares during the period. PAX Financial Group LLC increased its stake in shares of Shenandoah Telecommunications by 5.4% during the 1st quarter. PAX Financial Group LLC now owns 39,135 shares of the utilities provider’s stock worth $492,000 after purchasing an additional 2,017 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Shenandoah Telecommunications by 3.5% in the 1st quarter. CWM LLC now owns 73,331 shares of the utilities provider’s stock worth $922,000 after purchasing an additional 2,480 shares during the period. 61.96% of the stock is owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Trading Down 3.0%

Shares of SHEN opened at $13.40 on Tuesday. Shenandoah Telecommunications Co has a twelve month low of $9.77 and a twelve month high of $16.28. The stock has a market cap of $735.12 million, a PE ratio of -23.93 and a beta of 0.81. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $13.29 and its 200-day moving average price is $13.20.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. The company had revenue of $88.57 million during the quarter, compared to analysts’ expectations of $89.94 million. Shenandoah Telecommunications had a negative net margin of 8.90% and a negative return on equity of 3.78%. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen lowered Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Shenandoah Telecommunications presently has a consensus rating of “Hold” and an average price target of $26.00.

Insider Buying and Selling at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, major shareholder Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were bought at an average price of $14.62 per share, for a total transaction of $438,600.00. Following the completion of the transaction, the insider owned 2,903,506 shares of the company’s stock, valued at approximately $42,449,257.72. This represents a 1.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ecp Controlco, Llc acquired 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $12.52 per share, with a total value of $375,600.00. Following the purchase, the insider directly owned 3,221,550 shares of the company’s stock, valued at $40,333,806. This trade represents a 0.94% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 609,182 shares of company stock worth $8,452,575. Insiders own 4.51% of the company’s stock.

Shenandoah Telecommunications 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.