The Vanguard Group, Inc. recently announced the acquisition of new stake in Shenandoah Telecommunications Company (NASDAQ:SHEN). The institutional investor has increased its shareholding in the Communication Services company by 2.03% to 5.29 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 10.56% valued currently at $83.99 million. In addition, Dimensional Fund Advisors LP raised its holdings by 46488.0 to 1.94 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.83% or 15339.0 shares – to 1.87 million shares.
With over 0.13 million Shenandoah Telecommunications Company (SHEN) shares trading Friday and a closing price of $18.55 on the day, the dollar volume was approximately $2.39 million. The shares have shown a negative half year performance of -8.85% and its price on 01/20/23 gained nearly 1.15%. Currently, there are 50.18M common shares owned by the public and among those 48.02M shares have been available to trade.
Insiders at the company have transacted a total of 101 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 81 of these insider trades were purchases, accounting for 166,396 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 20,351 shares.
The top 3 mutual fund holders in Shenandoah Telecommunications Company are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 3.71 million shares of the company’s stock, all valued at over $58.85 million. The company sold 2808.0 shares recently to bring their total holdings to about 7.40% of the shares outstanding. Vanguard Small Cap Index Fund sold 2320.0 shares to bring its total holdings to over 1.23 million shares at a value of $19.47 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.45% of the shares outstanding.
Shares of Shenandoah Telecommunications Company (NASDAQ: SHEN) opened at $18.56, up $0.22 from a prior closing price of $18.34. However, the script later moved the day high at 18.93, up 1.15%. The company’s stock has a 5-day price change of 3.57% and -1.38% over the past three months. SHEN shares are trading 16.81% year to date (YTD), with the 12-month market performance down to -20.08% lower. It has a 12-month low price of $15.62 and touched a high of $25.93 over the same period. SHEN has an average intraday trading volume of 134.96K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.54%, 3.80%, and -9.57% respectively.
Institutional ownership of Shenandoah Telecommunications Company (NASDAQ: SHEN) shares accounts for 55.70% of the company’s 50.18M shares outstanding. Mutual fund holders own 41.76%, while other institutional holders and individual stakeholders account for 7.41% and 13.57% respectively.
It has a market capitalization of $918.78M and a beta (3y monthly) value of 0.65. The earnings-per-share (ttm) stands at -$0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.04% over the week and 3.61% over the month.
Analysts forecast that Shenandoah Telecommunications Company (SHEN) will achieve an EPS of $0.04 for the current quarter, $0.06 for the next quarter and $0.09 for 2023. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 201.20%, and 35.70% over the next financial year. EPS should shrink at an annualized rate of 24.40% over the next five years, compared to 60.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Shenandoah Telecommunications Company (SHEN) as a “Hold” at a consensus score of 3.30. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 3 advise that investors “hold,” and 1 rated it as a “Sell.”
Raymond James coverage for the Shenandoah Telecommunications Company (SHEN) stock in a research note released on May 03, 2022 offered a Strong Buy rating with a price target of $25. B. Riley Securities was of a view on May 02, 2022 that the stock is Neutral, while BWS Financial gave the stock Sell rating on March 02, 2022, issuing a price target of $26.25- $16. Raymond James on their part issued Outperform rating on December 14, 2021.