4,100,375 Shares in Shenandoah Telecommunications (NASDAQ:SHEN) Acquired by GCM Grosvenor Holdings LLC

GCM Grosvenor Holdings LLC bought a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,100,375 shares of the utilities provider’s stock, valued at approximately $66,959,000. Shenandoah Telecommunications comprises 9.8% of GCM Grosvenor Holdings LLC’s portfolio, making the stock its 2nd biggest holding. GCM Grosvenor Holdings LLC owned approximately 7.51% of Shenandoah Telecommunications as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Shenandoah Telecommunications in the 4th quarter valued at $41,000. GAMMA Investing LLC boosted its holdings in shares of Shenandoah Telecommunications by 90.8% in the 1st quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 1,182 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at $109,000. Aristides Capital LLC acquired a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at $181,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at $211,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Insider Transactions at Shenandoah Telecommunications

In related news, CEO Christopher E. French bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $14.02 per share, with a total value of $70,100.00. Following the transaction, the chief executive officer now owns 86,485 shares of the company’s stock, valued at $1,212,519.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Christopher E. French bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $14.02 per share, with a total value of $70,100.00. Following the transaction, the chief executive officer now owns 86,485 shares of the company’s stock, valued at $1,212,519.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Edward H. Mckay bought 2,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $14.15 per share, with a total value of $28,300.00. Following the transaction, the chief operating officer now directly owns 68,951 shares in the company, valued at approximately $975,656.65. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 14,700 shares of company stock valued at $212,745. Insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Stock Performance

Shenandoah Telecommunications stock opened at $15.40 on Tuesday. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $25.51. The company has a market capitalization of $840.02 million, a price-to-earnings ratio of 3.56 and a beta of 0.67. 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 firm’s fifty day moving average price is $16.55 and its 200 day moving average price is $16.52.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.10). The firm 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%. On average, research analysts forecast that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Shenandoah Telecommunications

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.