Shenandoah Telecommunications (NASDAQ:SHEN) SVP Richard W. Mason, Jr. Purchases 2,000 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) SVP Richard W. Mason, Jr. purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $14.73 per share, with a total value of $29,460.00. Following the completion of the acquisition, the senior vice president now directly owns 14,501 shares of the company’s stock, valued at approximately $213,599.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shenandoah Telecommunications Stock Up 5.2 %

Shares of SHEN opened at $14.90 on Wednesday. The firm has a market cap of $751.66 million, a P/E ratio of 3.44 and a beta of 0.61. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $25.51. The stock’s 50 day moving average is $16.16 and its two-hundred day moving average is $19.60. The company has a current ratio of 4.68, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. The company had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $71.85 million. During the same quarter in the previous year, the company posted ($0.04) EPS. Analysts predict that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its stake in Shenandoah Telecommunications by 1.0% during the third quarter. Swiss National Bank now owns 104,872 shares of the utilities provider’s stock worth $2,161,000 after purchasing an additional 1,000 shares during the period. GAMMA Investing LLC lifted its holdings in Shenandoah Telecommunications by 90.8% in the first quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 1,182 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Shenandoah Telecommunications by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,869 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 1,219 shares during the period. PAX Financial Group LLC increased its stake in Shenandoah Telecommunications by 4.0% during the third quarter. PAX Financial Group LLC now owns 34,815 shares of the utilities provider’s stock worth $718,000 after acquiring an additional 1,333 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Shenandoah Telecommunications by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 1,674 shares during the period. 61.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday.

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.