Alberta Investment Management Corp Has $2.41 Million Stake in Shenandoah Telecommunications Co $SHEN

Alberta Investment Management Corp raised its holdings in Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 171.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 176,657 shares of the utilities provider's stock after acquiring an additional 111,530 shares during the quarter. Alberta Investment Management Corp owned approximately 0.32% of Shenandoah Telecommunications worth $2,413,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Intech Investment Management LLC increased its position in shares of Shenandoah Telecommunications by 2.1% during the second quarter. Intech Investment Management LLC now owns 50,706 shares of the utilities provider's stock worth $693,000 after buying an additional 1,045 shares during the period. Creative Planning boosted its position in Shenandoah Telecommunications by 16.9% during the second quarter. Creative Planning now owns 70,509 shares of the utilities provider's stock valued at $963,000 after acquiring an additional 10,176 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Shenandoah Telecommunications by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,831 shares of the utilities provider's stock worth $162,000 after acquiring an additional 855 shares during the period. Geode Capital Management LLC raised its position in shares of Shenandoah Telecommunications by 8.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,248,255 shares of the utilities provider's stock worth $17,053,000 after acquiring an additional 93,340 shares in the last quarter. Finally, AlphaQuest LLC raised its position in shares of Shenandoah Telecommunications by 116.6% in the 2nd quarter. AlphaQuest LLC now owns 13,853 shares of the utilities provider's stock worth $189,000 after acquiring an additional 7,457 shares in the last quarter. Institutional investors and hedge funds own 61.96% of the company's stock.

Shenandoah Telecommunications Trading Down 0.8%

Shares of SHEN opened at $10.35 on Monday. Shenandoah Telecommunications Co has a twelve month low of $9.77 and a twelve month high of $15.84. The stock has a market cap of $568.19 million, a PE ratio of -16.43 and a beta of 0.80. 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 $12.88 and its 200-day moving average price is $13.14.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The utilities provider reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. The firm had revenue of $89.80 million for the quarter, compared to analysts' expectations of $90.95 million. Shenandoah Telecommunications had a negative net margin of 9.98% and a negative return on equity of 4.23%. 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.

Shenandoah Telecommunications Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.11 dividend. This represents a yield of 101.0%. This is an increase from Shenandoah Telecommunications's previous annual dividend of $0.10. The ex-dividend date is Friday, November 7th. Shenandoah Telecommunications's dividend payout ratio (DPR) is presently -17.46%.

Analyst Ratings Changes

Several research analysts recently issued reports on SHEN shares. Wall Street Zen lowered shares of Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 10th. Weiss Ratings reiterated a "sell (d)" rating on shares of Shenandoah Telecommunications in a report on Wednesday, October 8th. Finally, BWS Financial restated a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.00.

View Our Latest Research Report on SHEN

Insiders Place Their Bets

In related news, major shareholder Ecp Fiber Holdings Gp, Llc bought 13,541 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average price of $13.29 per share, with a total value of $179,959.89. Following the purchase, the insider owned 3,455,302 shares of the company's stock, valued at approximately $45,920,963.58. This trade represents a 0.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ecp Controlco, Llc acquired 14,358 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was purchased at an average price of $13.26 per share, with a total value of $190,387.08. Following the acquisition, the insider owned 3,365,233 shares of the company's stock, valued at $44,622,989.58. This represents a 0.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 77,697 shares of company stock worth $1,022,196. Insiders own 4.51% of the company's stock.

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.

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