Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) CEO Purchases 5,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHENGet Free Report) CEO Christopher E. French acquired 5,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $16.59 per share, for a total transaction of $82,950.00. Following the completion of the transaction, the chief executive officer now directly owns 324,750 shares in the company, valued at approximately $5,387,602.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shenandoah Telecommunications Price Performance

Shares of SHEN opened at $16.27 on Tuesday. The firm has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $18.62. The firm has a market cap of $887.48 million, a PE ratio of 3.76 and a beta of 0.72. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.33. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHENGet Free Report) last issued its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The firm had revenue of $69.25 million during the quarter, compared to the consensus estimate of $71.52 million. On average, equities analysts anticipate that Shenandoah Telecommunications will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in Shenandoah Telecommunications in the fourth quarter worth approximately $6,797,000. RWA Wealth Partners LLC purchased a new stake in shares of Shenandoah Telecommunications in the 4th quarter worth $2,583,000. American Century Companies Inc. raised its holdings in Shenandoah Telecommunications by 25.6% in the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after purchasing an additional 90,695 shares during the period. DAVENPORT & Co LLC lifted its position in Shenandoah Telecommunications by 8.3% during the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock valued at $16,203,000 after purchasing an additional 71,451 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Shenandoah Telecommunications by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock worth $14,616,000 after buying an additional 51,827 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BWS Financial reaffirmed a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 6th. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research note on Thursday, May 23rd.

View Our Latest Stock Analysis on Shenandoah Telecommunications

Shenandoah Telecommunications Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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