Shenandoah Telecommunications (NASDAQ:SHEN) CEO Edward Mckay Buys 2,000 Shares

Shenandoah Telecommunications Co (NASDAQ:SHEN) CEO Edward Mckay acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $12.14 per share, for a total transaction of $24,280.00. Following the completion of the transaction, the chief executive officer directly owned 136,007 shares in the company, valued at $1,651,124.98. This represents a 1.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shenandoah Telecommunications Stock Up 3.8%

SHEN stock traded up $0.46 during trading hours on Monday, reaching $12.45. 697,347 shares of the stock were exchanged, compared to its average volume of 352,436. The firm’s 50-day moving average is $14.08 and its 200-day moving average is $14.19. The company has a market cap of $689.36 million, a price-to-earnings ratio of -15.96 and a beta of 0.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.85. Shenandoah Telecommunications Co has a 12 month low of $9.66 and a 12 month high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.11. The company had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.83 million. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. On average, equities research analysts expect that Shenandoah Telecommunications Co will post -1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently made changes to their positions in the company. Caitlin John LLC boosted its holdings in Shenandoah Telecommunications by 324.0% in the 4th quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 3,477 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Shenandoah Telecommunications by 11,367.6% during the third quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 4,206 shares during the period. State of Wyoming acquired a new stake in shares of Shenandoah Telecommunications in the second quarter valued at approximately $65,000. iSAM Funds UK Ltd acquired a new stake in shares of Shenandoah Telecommunications in the third quarter valued at approximately $67,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Shenandoah Telecommunications by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock valued at $68,000 after buying an additional 2,228 shares during the period. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Company Profile

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.