Shenandoah Telecommunications (NASDAQ:SHEN) VP Derek Rieger Purchases 685 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) VP Derek Rieger purchased 685 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $14.64 per share, for a total transaction of $10,028.40. Following the completion of the purchase, the vice president now directly owns 4,321 shares of the company’s stock, valued at $63,259.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shenandoah Telecommunications Trading Up 5.2 %

Shares of SHEN opened at $14.90 on Wednesday. The stock has a 50 day simple moving average of $16.16 and a 200-day simple moving average of $19.60. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $25.51. The stock has a market cap of $751.66 million, a PE ratio of 3.44 and a beta of 0.61. 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 posted its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share 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 business had revenue of $72.51 million for the quarter, compared to analyst estimates of $71.85 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. On average, sell-side analysts predict that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of Shenandoah Telecommunications during the fourth quarter worth $27,000. Quest Partners LLC bought a new stake in Shenandoah Telecommunications during the 4th quarter worth about $41,000. SG Americas Securities LLC acquired a new stake in Shenandoah Telecommunications in the 1st quarter valued at about $109,000. HTLF Bank acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter worth approximately $203,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Shenandoah Telecommunications during the first quarter worth approximately $211,000. 61.96% of the stock is owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

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.