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Glenn E. Lytle Jr., the Senior Vice President of Commercial Sales at Shenandoah Telecommunications Co. (NASDAQ:SHEN), recently purchased 500 shares of the company’s common stock. The transaction, which took place on February 20, 2025, was executed at a price of $9.97 per share, amounting to a total investment of $4,985. The purchase comes as the stock trades near its 52-week low of $9.77, having declined about 11% in the past week. According to InvestingPro analysis, the company has maintained dividend payments for 30 consecutive years, despite recent financial challenges.
Following this purchase, Lytle’s direct ownership in the company increased to 2,500 shares. Shenandoah Telecommunications, based in Edinburg, Virginia, continues to be a significant player in the telecommunications sector, though InvestingPro data shows the company faces headwinds with significant debt burden and cash burn. For deeper insights into SHEN’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Shenandoah Telecommunications Co reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of -$0.11, which narrowly missed the forecast of -$0.10. The company also reported revenue of $85.41 million, falling short of the expected $88.6 million. Despite these misses, Shenandoah achieved a 22% revenue growth for the year, largely driven by the acquisition of Horizon Markets, which contributed $47.7 million in revenue. The company’s adjusted EBITDA saw a 20% increase, indicating improved operational efficiency. Shenandoah plans significant capital expenditures of $250-$280 million for 2025, focusing on fiber expansion. The company aims to add 95,000 new fiber passings, with expectations to reduce capital intensity by 2027. Additionally, Shenandoah’s strategic focus on fiber expansion is anticipated to make Glow Fiber its largest line of business by 2026 in terms of customers.
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