Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Up 4.1% – Here’s What Happened

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) were up 4.1% on Wednesday . The company traded as high as $14.69 and last traded at $14.69. Approximately 75,442 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 191,091 shares. The stock had previously closed at $14.11.

Analyst Ratings Changes

A number of research firms have recently commented on SHEN. BWS Financial restated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, August 8th. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th.

Shenandoah Telecommunications Trading Up 0.8 %

The stock’s 50 day moving average is $14.46 and its 200-day moving average is $15.99. The company has a market cap of $775.99 million, a PE ratio of 3.48 and a beta of 0.67. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31.

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

Insider Transactions at Shenandoah Telecommunications

In related news, CEO Christopher E. French acquired 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $14.02 per share, with a total value of $70,100.00. Following the completion of the purchase, the chief executive officer now owns 86,485 shares of the company’s stock, valued at approximately $1,212,519.70. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Edward H. Mckay acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the purchase, the chief operating officer now directly owns 68,951 shares of the company’s stock, valued at approximately $975,656.65. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. French acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $14.02 per share, with a total value of $70,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,485 shares of the company’s stock, valued at approximately $1,212,519.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 14,700 shares of company stock valued at $212,745 over the last 90 days. Corporate insiders own 4.37% of the company’s stock.

Institutional Trading of Shenandoah Telecommunications

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Shenandoah Telecommunications by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock worth $95,328,000 after acquiring an additional 51,697 shares during the last quarter. GCM Grosvenor Holdings LLC purchased a new position in Shenandoah Telecommunications in the 2nd quarter valued at about $66,959,000. Dimensional Fund Advisors LP grew its stake in Shenandoah Telecommunications by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock valued at $42,070,000 after purchasing an additional 29,413 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Shenandoah Telecommunications by 8.3% in the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock valued at $16,203,000 after acquiring an additional 71,451 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Shenandoah Telecommunications by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock worth $7,621,000 after purchasing an additional 13,776 shares in the last quarter. 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.