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

Shenandoah Telecommunications (NASDAQ:SHEN) CEO Christopher E. French purchased 11,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $14.69 per share, with a total value of $161,590.00. Following the transaction, the chief executive officer now owns 319,750 shares in the company, valued at $4,697,127.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shenandoah Telecommunications Stock Up 9.3 %

Shenandoah Telecommunications stock traded up $1.38 during midday trading on Wednesday, reaching $16.28. The stock had a trading volume of 178,446 shares, compared to its average volume of 156,004. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 4.68. The firm’s fifty day simple moving average is $16.16 and its 200-day simple moving average is $19.60. The stock has a market capitalization of $821.28 million, a P/E ratio of 3.69 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data 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 business had revenue of $72.51 million for the quarter, compared to analyst estimates of $71.85 million. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. As a group, analysts expect that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds have recently modified their holdings of SHEN. RWA Wealth Partners LLC acquired a new stake in Shenandoah Telecommunications in the fourth quarter valued at $2,583,000. Illinois Municipal Retirement Fund bought a new position in Shenandoah Telecommunications during the third quarter worth about $650,000. American Century Companies Inc. increased its position in Shenandoah Telecommunications by 25.6% during 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in Shenandoah Telecommunications by 7.9% in 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 buying an additional 51,827 shares during the period. Finally, Corton Capital Inc. boosted its stake in shares of Shenandoah Telecommunications by 23.7% during the 3rd quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 4,582 shares during the period. Institutional investors own 61.96% of the company’s stock.

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.