SG Americas Securities LLC Buys Shares of 19,188 Shenandoah Telecommunications (NASDAQ:SHEN)

SG Americas Securities LLC bought a new stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,188 shares of the utilities provider’s stock, valued at approximately $271,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SHEN. DAVENPORT & Co LLC lifted its holdings in shares of Shenandoah Telecommunications by 8.3% during the 1st quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock valued at $16,203,000 after buying an additional 71,451 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Shenandoah Telecommunications by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after buying an additional 51,697 shares during the last quarter. GCM Grosvenor Holdings LLC acquired a new stake in Shenandoah Telecommunications in the 2nd quarter worth approximately $66,959,000. Mercer Global Advisors Inc. ADV lifted its holdings in Shenandoah Telecommunications by 99.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 50,630 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Shenandoah Telecommunications in the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Insider Activity

In other news, CEO Christopher E. French acquired 6,500 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $14.94 per share, for a total transaction of $97,110.00. Following the completion of the transaction, the chief executive officer now owns 346,394 shares in the company, valued at approximately $5,175,126.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Edward H. Mckay purchased 2,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the transaction, the chief operating officer now directly owns 68,951 shares of the company’s stock, valued at approximately $975,656.65. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. French purchased 6,500 shares of the stock in a transaction on Friday, August 9th. The stock was bought at an average price of $14.94 per share, for a total transaction of $97,110.00. Following the completion of the transaction, the chief executive officer now directly owns 346,394 shares of the company’s stock, valued at approximately $5,175,126.36. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 14,700 shares of company stock worth $212,745. Company insiders own 4.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SHEN. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial restated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, August 8th.

Shenandoah Telecommunications Stock Down 0.6 %

Shares of SHEN stock opened at $14.01 on Monday. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $25.51. The firm has a market cap of $764.20 million, a PE ratio of 3.24 and a beta of 0.67. The stock has a 50 day moving average of $14.47 and a 200-day moving average of $16.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) 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 analyst estimates of $86.12 million. Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. On average, equities analysts predict that Shenandoah Telecommunications will post -0.26 EPS for the current 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.