Quest Partners LLC Takes $41,000 Position in Shenandoah Telecommunications (NASDAQ:SHEN)

May 31, 2024

24 3 minutes read

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Quest Partners LLC acquired a new stake in Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,893 shares of the utilities provider’s stock, valued at approximately $41,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at $27,000. HTLF Bank purchased a new stake in Shenandoah Telecommunications during the fourth quarter worth $203,000. Victory Capital Management Inc. purchased a new stake in Shenandoah Telecommunications during the fourth quarter worth $236,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Shenandoah Telecommunications by 17.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock worth $280,000 after buying an additional 1,899 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Shenandoah Telecommunications during the third quarter worth $333,000. 61.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SHEN. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Thursday, May 23rd. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 6th.

Check Out Our Latest Analysis on Shenandoah Telecommunications

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN opened at $18.24 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.68 and a current ratio of 4.68. The company has a fifty day moving average of $15.99 and a two-hundred day moving average of $18.94. The stock has a market capitalization of $994.99 million, a PE ratio of 4.21 and a beta of 0.61. Shenandoah Telecommunications has a fifty-two week low of $11.87 and a fifty-two week high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last posted its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The company had revenue of $69.25 million for the quarter, compared to analyst estimates of $71.52 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. As a group, research analysts forecast that Shenandoah Telecommunications will post -0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Shenandoah Telecommunications Company Profile

(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.