Christopher E. French Acquires 5,000 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) CEO Christopher E. French purchased 5,000 shares of Shenandoah Telecommunications stock in a transaction dated Friday, June 14th. The stock was acquired at an average price of $15.79 per share, for a total transaction of $78,950.00. Following the completion of the acquisition, the chief executive officer now owns 84,629 shares of the company’s stock, valued at approximately $1,336,291.91. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shenandoah Telecommunications Stock Down 1.7 %
Shares of Shenandoah Telecommunications stock opened at $15.89 on Friday. Shenandoah Telecommunications has a 52-week low of $11.87 and a 52-week high of $25.51. The firm’s 50 day moving average price is $16.13 and its 200-day moving average price is $18.46. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.33. The company has a market cap of $866.80 million, a P/E ratio of 3.67 and a beta of 0.72.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $69.25 million for the quarter, compared to analyst estimates of $71.52 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. On average, sell-side analysts predict that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SHEN has been the topic of several recent analyst reports. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday, May 6th. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, June 11th.
Institutional Investors Weigh In On Shenandoah Telecommunications
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHEN. Swiss National Bank grew its stake in shares of Shenandoah Telecommunications by 1.0% during the third quarter. Swiss National Bank now owns 104,872 shares of the utilities provider’s stock worth $2,161,000 after acquiring an additional 1,000 shares during the last quarter. GAMMA Investing LLC grew its position in Shenandoah Telecommunications by 90.8% during the 1st quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 1,182 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Shenandoah Telecommunications by 5.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,869 shares of the utilities provider’s stock valued at $473,000 after purchasing an additional 1,219 shares in the last quarter. PAX Financial Group LLC raised its holdings in shares of Shenandoah Telecommunications by 4.0% in the third quarter. PAX Financial Group LLC now owns 34,815 shares of the utilities provider’s stock worth $718,000 after buying an additional 1,333 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Shenandoah Telecommunications by 1.7% during the first 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 period. 61.96% of the stock is currently owned by hedge funds and other institutional investors.
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.
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