Shenandoah Telecommunications Co $SHEN Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 34.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,909 shares of the utilities provider’s stock after selling 27,779 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Shenandoah Telecommunications were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SHEN. Charles Schwab Investment Management Inc. boosted its stake in Shenandoah Telecommunications by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider’s stock worth $6,841,000 after buying an additional 19,130 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Shenandoah Telecommunications by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock worth $6,700,000 after acquiring an additional 116,040 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Shenandoah Telecommunications by 12.8% during the 1st quarter. American Century Companies Inc. now owns 488,650 shares of the utilities provider’s stock worth $6,142,000 after acquiring an additional 55,432 shares during the period. Millennium Management LLC boosted its position in shares of Shenandoah Telecommunications by 48.3% during the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock valued at $5,644,000 after acquiring an additional 146,221 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Shenandoah Telecommunications by 32.8% in the first quarter. Private Advisor Group LLC now owns 250,471 shares of the utilities provider’s stock valued at $3,148,000 after purchasing an additional 61,825 shares during the period. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SHEN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a research note on Wednesday, October 8th. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Friday, October 31st. Finally, Wall Street Zen cut Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Shenandoah Telecommunications Stock Up 1.6%

Shenandoah Telecommunications stock opened at $10.06 on Wednesday. The company has a market capitalization of $552.27 million, a PE ratio of -15.97 and a beta of 0.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 0.73. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $15.84. The firm has a 50 day moving average price of $12.74 and a 200 day moving average price of $13.11.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Wednesday, October 29th. The utilities provider reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Shenandoah Telecommunications had a negative return on equity of 4.23% and a negative net margin of 9.98%.The company had revenue of $89.80 million for the quarter, compared to analysts’ expectations of $90.95 million. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. Research analysts expect that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Shenandoah Telecommunications Increases Dividend

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

Insider Activity

In other Shenandoah Telecommunications news, major shareholder Ecp Fiber Holdings Gp, Llc purchased 13,541 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were bought at an average cost of $13.29 per share, for a total transaction of $179,959.89. Following the completion of the purchase, the insider directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ecp Controlco, Llc purchased 14,358 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, August 28th. The shares were acquired at an average cost of $13.26 per share, for a total transaction of $190,387.08. Following the transaction, the insider directly owned 3,365,233 shares of the company’s stock, valued at approximately $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 ninety days, insiders acquired 67,137 shares of company stock valued at $889,773. 4.51% of the stock is currently owned by corporate insiders.

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.