Shenandoah Telecommunications (NASDAQ:SHEN) CEO Christopher E. French Buys 11,000 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) CEO Christopher E. French acquired 11,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average price of $14.69 per share, for a total transaction of $161,590.00. Following the acquisition, the chief executive officer now directly owns 319,750 shares in the company, valued at $4,697,127.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Shenandoah Telecommunications Stock Performance

Shares of SHEN stock opened at $16.37 on Thursday. The stock has a market capitalization of $825.82 million, a price-to-earnings ratio of 3.78 and a beta of 0.61. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $25.51. The company’s 50-day simple moving average is $16.12 and its 200-day simple moving average is $19.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 4.68.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $72.51 million for the quarter, compared to the consensus estimate of $71.85 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. During the same quarter last year, the business posted ($0.04) EPS. Equities analysts anticipate that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SHEN. Norges Bank bought a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at approximately $6,797,000. RWA Wealth Partners LLC acquired a new stake in Shenandoah Telecommunications in the fourth quarter worth $2,583,000. American Century Companies Inc. increased its position in Shenandoah Telecommunications by 25.6% in the third quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after buying an additional 90,695 shares during the period. DAVENPORT & Co LLC lifted its stake 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 buying an additional 71,451 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Shenandoah Telecommunications by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock valued at $14,616,000 after acquiring an additional 51,827 shares during the period. 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.