The Manufacturers Life Insurance Company Acquires 2,155 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

The Manufacturers Life Insurance Company increased its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,785 shares of the utilities provider’s stock after acquiring an additional 2,155 shares during the period. The Manufacturers Life Insurance Company’s holdings in Shenandoah Telecommunications were worth $437,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SHEN. GAMMA Investing LLC grew its position in Shenandoah Telecommunications by 90.8% during the 1st quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 1,182 shares during the last quarter. SG Americas Securities LLC bought a new position in Shenandoah Telecommunications in the 1st quarter valued at $109,000. Aristides Capital LLC bought a new position in Shenandoah Telecommunications in the 1st quarter valued at $181,000. Susquehanna Fundamental Investments LLC bought a new position in Shenandoah Telecommunications in the 1st quarter valued at $211,000. Finally, Magnetar Financial LLC bought a new position in Shenandoah Telecommunications in the 2nd quarter valued at $257,000. 61.96% of the stock is currently owned by institutional investors.

Insider Transactions at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $14.02 per share, with a total value of $70,100.00. Following the purchase, the chief executive officer now owns 86,485 shares of the company’s stock, valued at $1,212,519.70. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Shenandoah Telecommunications news, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $14.02 per share, with a total value of $70,100.00. Following the purchase, the chief executive officer now owns 86,485 shares of the company’s stock, valued at $1,212,519.70. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. French acquired 6,500 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief executive officer now directly owns 346,394 shares in the company, valued at $5,175,126.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 14,700 shares of company stock worth $212,745 in the last three months. Insiders own 4.37% of the company’s stock.

Analyst Ratings Changes

SHEN has been the topic of a number of recent research reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, August 8th.

Shenandoah Telecommunications Stock Up 5.6 %

NASDAQ:SHEN opened at $14.04 on Thursday. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $25.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $765.84 million, a P/E ratio of 3.24 and a beta of 0.67. The stock’s fifty day simple moving average is $14.53 and its 200-day simple moving average is $16.06.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted 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). Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. The company had revenue of $85.80 million during the quarter, compared to the consensus estimate of $86.12 million. Equities research analysts expect that Shenandoah Telecommunications will post -0.26 earnings per share for the current year.

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.