Shenandoah Telecommunications (NASDAQ:SHEN) Upgraded to Sell at StockNews.com

June 12, 2024

24 3 minutes read

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StockNews.com upgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) to a sell rating in a research note issued to investors on Tuesday morning.

Separately, BWS Financial restated a buy rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, May 6th.

Get Our Latest Research Report on SHEN

Shenandoah Telecommunications Price Performance

SHEN opened at $16.92 on Tuesday. The firm has a market cap of $922.99 million, a price-to-earnings ratio of 3.91 and a beta of 0.71. Shenandoah Telecommunications has a fifty-two week low of $11.87 and a fifty-two week high of $25.51. The company’s 50-day moving average price is $16.14 and its 200 day moving average price is $18.57. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.33.

Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. The firm had revenue of $69.25 million during the quarter, compared to analyst estimates of $71.52 million. As a group, sell-side analysts expect that Shenandoah Telecommunications will post -0.13 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher E. French bought 5,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $16.59 per share, for a total transaction of $82,950.00. Following the purchase, the chief executive officer now owns 324,750 shares of the company’s stock, valued at approximately $5,387,602.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $16.59 per share, for a total transaction of $82,950.00. Following the acquisition, the chief executive officer now owns 324,750 shares in the company, valued at approximately $5,387,602.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher E. French bought 11,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $14.69 per share, for a total transaction of $161,590.00. Following the purchase, the chief executive officer now owns 319,750 shares of the company’s stock, valued at $4,697,127.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 32,650 shares of company stock worth $498,185. 4.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aristides Capital LLC bought a new stake in shares of Shenandoah Telecommunications during the first quarter worth $181,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Shenandoah Telecommunications by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,932 shares of the utilities provider’s stock worth $850,000 after buying an additional 8,637 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake 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 buying an additional 1,726 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Shenandoah Telecommunications by 8.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 44,268 shares of the utilities provider’s stock worth $769,000 after acquiring an additional 3,409 shares during the period. Finally, Vanguard Group Inc. increased its position in Shenandoah Telecommunications by 1.0% during 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 period. 61.96% of the stock is owned by institutional investors.

About Shenandoah Telecommunications

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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.