Avantax Advisory Services Inc. Sells 810 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

May 26, 2024

44 3 minutes read

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Avantax Advisory Services Inc. lessened its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,140 shares of the utilities provider’s stock after selling 810 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Shenandoah Telecommunications were worth $262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Shenandoah Telecommunications during the fourth quarter valued at approximately $27,000. HTLF Bank purchased a new position in Shenandoah Telecommunications in the fourth quarter worth $203,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Shenandoah Telecommunications by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock valued at $228,000 after acquiring an additional 1,674 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Shenandoah Telecommunications during the fourth quarter valued at about $236,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Shenandoah Telecommunications during the third quarter valued at about $333,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Up 0.6 %

SHEN opened at $17.82 on Friday. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $25.51. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $15.97 and its 200-day moving average price is $19.07. The company has a market cap of $972.08 million, a P/E ratio of 4.12 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The company had revenue of $69.25 million during the quarter, compared to analysts’ expectations of $71.52 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. On average, equities analysts expect that Shenandoah Telecommunications will post -0.13 EPS for the current year.

Insider Activity at Shenandoah Telecommunications

In other news, SVP Richard W. Mason, Jr. purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average price of $14.73 per share, with a total value of $29,460.00. Following the acquisition, the senior vice president now directly owns 14,501 shares in the company, valued at $213,599.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Shenandoah Telecommunications news, SVP Richard W. Mason, Jr. purchased 2,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was acquired at an average price of $14.73 per share, with a total value of $29,460.00. Following the transaction, the senior vice president now directly owns 14,501 shares of the company’s stock, valued at approximately $213,599.73. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Edward H. Mckay acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average price of $14.95 per share, for a total transaction of $149,500.00. Following the completion of the transaction, the chief operating officer now owns 66,951 shares in the company, valued at approximately $1,000,917.45. The disclosure for this purchase can be found here. Insiders bought 24,463 shares of company stock worth $363,095 in the last three months. 4.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SHEN has been the topic of several recent research reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research report on Thursday. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday, May 6th.

Get Our Latest Analysis on SHEN

About Shenandoah Telecommunications

(Free Report)

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.