Shenandoah Telecommunications (NASDAQ:SHEN) Trading Up 3%

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price was up 3% during trading on Tuesday . The company traded as high as $14.40 and last traded at $14.38. Approximately 46,492 shares traded hands during trading, a decline of 74% from the average daily volume of 177,549 shares. The stock had previously closed at $13.96.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SHEN shares. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reiterated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, August 8th.

Shenandoah Telecommunications Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a market cap of $808.73 million, a PE ratio of 3.37 and a beta of 0.67. The firm’s fifty day moving average is $16.80 and its 200 day moving average is $16.70.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). The firm had revenue of $85.80 million for the quarter, compared to analysts’ expectations of $86.12 million. Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. As a group, research analysts predict that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Insider Activity

In other Shenandoah Telecommunications news, CEO Christopher E. French purchased 5,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $15.79 per share, with a total value of $78,950.00. Following the purchase, the chief executive officer now directly owns 84,629 shares in the company, valued at approximately $1,336,291.91. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $15.79 per share, with a total value of $78,950.00. Following the completion of the purchase, the chief executive officer now owns 84,629 shares of the company’s stock, valued at approximately $1,336,291.91. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Edward H. Mckay bought 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $14.15 per share, with a total value of $28,300.00. Following the completion of the acquisition, the chief operating officer now directly owns 68,951 shares in the company, valued at $975,656.65. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 19,700 shares of company stock valued at $291,695. 4.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently made changes to their positions in SHEN. The Manufacturers Life Insurance Company increased its holdings in Shenandoah Telecommunications by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider’s stock valued at $437,000 after buying an additional 2,155 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Shenandoah Telecommunications in the 2nd quarter valued at about $572,000. Marshall Wace LLP acquired a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth about $480,000. GCM Grosvenor Holdings LLC purchased a new stake in Shenandoah Telecommunications during the second quarter worth approximately $66,959,000. Finally, Magnetar Financial LLC acquired a new stake in Shenandoah Telecommunications during the second quarter worth approximately $257,000. 61.96% of the stock is owned by institutional investors and hedge funds.

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.