Thrivent Financial for Lutherans Sells 1,946 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Thrivent Financial for Lutherans lowered its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,659 shares of the utilities provider’s stock after selling 1,946 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Shenandoah Telecommunications worth $680,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Inspire Investing LLC lifted its position in shares of Shenandoah Telecommunications by 5.6% in the second quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock worth $352,000 after purchasing an additional 1,138 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Shenandoah Telecommunications by 99.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 50,630 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Shenandoah Telecommunications by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock worth $42,070,000 after purchasing an additional 29,413 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Shenandoah Telecommunications by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock worth $7,621,000 after purchasing an additional 13,776 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Shenandoah Telecommunications by 3.0% in the second quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 2,121 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

SHEN has been the topic of a number of research reports. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, August 8th. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th.

Insider Buying and Selling at Shenandoah Telecommunications

In related news, COO Edward H. Mckay acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the acquisition, the chief operating officer now directly owns 68,951 shares in the company, valued at approximately $975,656.65. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Shenandoah Telecommunications news, COO Edward H. Mckay bought 2,000 shares of Shenandoah Telecommunications stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $14.15 per share, with a total value of $28,300.00. Following the completion of the transaction, the chief operating officer now owns 68,951 shares in the company, valued at $975,656.65. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. French bought 6,500 shares of Shenandoah Telecommunications stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $14.94 per share, with a total value of $97,110.00. Following the transaction, the chief executive officer now owns 346,394 shares of the company’s stock, valued at $5,175,126.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,700 shares of company stock worth $212,745 over the last ninety days. Insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Price Performance

Shares of SHEN opened at $13.08 on Tuesday. The company has a market cap of $713.78 million, a price-to-earnings ratio of 3.02 and a beta of 0.67. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51. The company’s fifty day simple moving average is $15.39 and its 200 day simple moving average is $16.26. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). Shenandoah Telecommunications had a net margin of 68.81% and a negative return on equity of 0.48%. The company had revenue of $85.80 million during the quarter, compared to analyst estimates of $86.12 million. On average, research analysts forecast that Shenandoah Telecommunications will post -0.26 earnings per share for the current fiscal year.

Shenandoah Telecommunications Company 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.