Shenandoah Telecommunications Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

DB:SH9 Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
11 Sep 25	Buy€173,676	Energy Capital Partners, LLC	Company	15,344	€11.36
09 Sep 25	Buy€5,824	Energy Capital Partners, LLC	Company	509	€11.49
05 Sep 25	Buy€57,170	Energy Capital Partners, LLC	Company	5,068	€11.45
03 Sep 25	Buy€651,125	Energy Capital Partners, LLC	Company	58,951	€11.14
29 Aug 25	Buy€298,747	Energy Capital Partners, LLC	Company	26,358	€11.34
27 Aug 25	Buy€82,905	Energy Capital Partners, LLC	Company	7,253	€11.50
25 Aug 25	Buy€61,632	Energy Capital Partners, LLC	Company	5,500	€11.21
21 Aug 25	Buy€265,082	Energy Capital Partners, LLC	Company	24,492	€10.90
19 Aug 25	Buy€328,444	Energy Capital Partners, LLC	Company	30,607	€10.74
11 Aug 25	Buy€171,339	Christopher French	Individual	16,800	€10.20

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of SH9?
Owner Type	Number of Shares	Ownership Percentage
State or Government	11,454	0.0207%
Individual Insiders	2,798,200	5.06%
VC/PE Firms	7,573,155	13.7%
General Public	12,060,251	21.8%
Institutions	32,878,941	59.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 68.52% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
12.6%	BlackRock, Inc.	6,977,701	€94.4m	-0.56%	no data
7.44%	GCM Grosvenor Inc.	4,116,050	€55.7m	0%	6.97%
6.25%	Energy Capital Partners, LLC	3,457,105	€46.7m	0%	0.78%
5.31%	Southeastern Asset Management, Inc.	2,940,296	€39.8m	0%	1.68%
4.47%	Dimensional Fund Advisors LP	2,471,214	€33.4m	-0.63%	no data
3.94%	Vanguard Capital Management, LLC	2,179,012	€29.5m	0%	no data
3.76%	Christopher French	2,078,708	€28.1m	3.53%	no data
3.54%	State Street Global Advisors, Inc.	1,959,442	€26.5m	1.68%	no data
2.27%	Geode Capital Management, LLC	1,253,952	€17.0m	3.95%	no data
2.16%	Millennium Management LLC	1,193,209	€16.1m	9.75%	0.01%
2.13%	American Century Investment Management Inc	1,180,953	€16.0m	8.82%	0.01%
1.69%	Cooper Investors Pty Limited	937,332	€12.7m	-1.43%	0.88%
1.59%	Vanguard Portfolio Management, LLC	881,864	€11.9m	0%	no data
1.59%	Broad Run Investment Management, LLC	878,264	€11.9m	-1.44%	1.95%
1.42%	Charles Schwab Investment Management, Inc.	787,500	€10.6m	-1.08%	no data
1.31%	Whitebark Investors LP	726,445	€9.8m	71.7%	7.99%
1.16%	Cerity Partners LLC	643,798	€8.7m	0.1%	0.01%
1.13%	Bridgeway Capital Management, LLC	625,330	€8.5m	7.58%	0.11%
0.98%	Invesco Capital Management LLC	541,292	€7.3m	-4.43%	no data
0.88%	Northern Trust Global Investments	486,455	€6.6m	6.44%	no data
0.85%	GAMCO Investors, Inc.	469,530	€6.3m	1.71%	0.02%
0.56%	Two Sigma Investments, LP	310,174	€4.2m	23%	no data
0.55%	Vanguard Fiduciary Trust Company	303,841	€4.1m	220%	no data
0.48%	BNY Asset Management	263,951	€3.6m	-4.94%	no data
0.43%	Morgan Stanley	240,564	€3.3m	-3.05%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/06/29 14:56
End of Day Share Price	2026/06/29 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Shenandoah Telecommunications Company is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Zachary Silver	B. Riley Securities, Inc.
Hamed Khorsand	BWS Financial Inc.
Christian Schwab	Craig-Hallum Capital Group LLC