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

Shenandoah Telecommunications (NASDAQ:SHEN) CEO Christopher E. French bought 5,000 shares of the stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $15.79 per share, for a total transaction of $78,950.00. Following the purchase, the chief executive officer now directly owns 84,629 shares of the company’s stock, valued at $1,336,291.91. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Shenandoah Telecommunications Stock Down 1.7 %

Shares of SHEN traded down $0.28 during trading hours on Friday, hitting $15.89. 188,431 shares of the company were exchanged, compared to its average volume of 165,510. The company has a market cap of $866.80 million, a PE ratio of 3.67 and a beta of 0.72. The firm’s 50 day moving average is $16.13 and its 200-day moving average is $18.49. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.68 and a current ratio of 4.68.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $69.25 million for the quarter, compared to the consensus estimate of $71.52 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. On average, equities research analysts forecast that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

Large investors have recently made changes to their positions in the stock. Swiss National Bank lifted its position in shares of Shenandoah Telecommunications by 1.0% during the 3rd 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 last quarter. GAMMA Investing LLC lifted its position in shares of Shenandoah Telecommunications by 90.8% during the 1st quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 1,182 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Shenandoah Telecommunications by 5.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,869 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 1,219 shares during the last quarter. PAX Financial Group LLC lifted its position in shares of Shenandoah Telecommunications by 4.0% during the 3rd quarter. PAX Financial Group LLC now owns 34,815 shares of the utilities provider’s stock worth $718,000 after purchasing an additional 1,333 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Shenandoah Telecommunications by 1.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 105,726 shares of the utilities provider’s stock worth $1,836,000 after purchasing an additional 1,726 shares during the last quarter. Institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SHEN shares. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday. BWS Financial restated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Monday, May 6th.

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.