James Volk Purchases 4,283 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN) CFO James Volk bought 4,283 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $11.67 per share, with a total value of $49,982.61. Following the completion of the acquisition, the chief financial officer owned 92,671 shares of the company’s stock, valued at approximately $1,081,470.57. This trade represents a 4.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shenandoah Telecommunications Stock Up 7.6%

SHEN stock opened at $13.40 on Wednesday. The company’s 50 day simple moving average is $13.95 and its 200-day simple moving average is $14.21. Shenandoah Telecommunications Co has a 52-week low of $9.66 and a 52-week high of $17.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $741.96 million, a P/E ratio of -17.18 and a beta of 0.68.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.11. The firm had revenue of $93.46 million for the quarter, compared to analysts’ expectations of $92.83 million. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. As a group, equities research analysts anticipate that Shenandoah Telecommunications Co will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in Shenandoah Telecommunications by 1,116.6% in the fourth quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock valued at $12,569,000 after acquiring an additional 997,882 shares during the last quarter. Invesco Ltd. increased its stake in shares of Shenandoah Telecommunications by 103.7% during the 2nd quarter. Invesco Ltd. now owns 447,553 shares of the utilities provider’s stock worth $6,114,000 after purchasing an additional 227,789 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Shenandoah Telecommunications by 187.2% during the 3rd quarter. Bridgeway Capital Management LLC now owns 330,890 shares of the utilities provider’s stock worth $4,441,000 after purchasing an additional 215,668 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Shenandoah Telecommunications by 27.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after purchasing an additional 116,040 shares in the last quarter. Finally, HRT Financial LP raised its holdings in shares of Shenandoah Telecommunications by 214.2% during the 4th quarter. HRT Financial LP now owns 166,189 shares of the utilities provider’s stock valued at $1,921,000 after purchasing an additional 113,296 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

Analysts Set New Price Targets

SHEN has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shenandoah Telecommunications in a report on Friday. Craig Hallum began coverage on shares of Shenandoah Telecommunications in a research report on Thursday, April 9th. They issued a “buy” rating and a $29.00 target price for the company. Wall Street Zen lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, BWS Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Shenandoah Telecommunications currently has an average rating of “Hold” and a consensus target price of $27.50.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.