Shenandoah Telecommunications (SHEN) SVP Sells $127,800.00 in Stock
Shenandoah Telecommunications (NASDAQ:SHEN) SVP Thomas A. Whitaker sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $42.60, for a total transaction of $127,800.00. Following the completion of the sale, the senior vice president now directly owns 26,810 shares of the company’s stock, valued at approximately $1,142,106. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ:SHEN opened at $44.67 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.50 and a quick ratio of 1.36. Shenandoah Telecommunications has a 52-week low of $29.92 and a 52-week high of $44.82. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 58.38 and a beta of 0.24.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Tuesday, November 6th. The utilities provider reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.16. The company had revenue of $158.73 million during the quarter, compared to analysts’ expectations of $156.14 million. Shenandoah Telecommunications had a return on equity of 8.73% and a net margin of 14.41%. On average, analysts anticipate that Shenandoah Telecommunications will post 0.69 EPS for the current fiscal year.
Several brokerages have issued reports on SHEN. ValuEngine raised shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a research report on Saturday. B. Riley set a $50.00 price objective on shares of Shenandoah Telecommunications and gave the company a “buy” rating in a research report on Wednesday. BidaskClub downgraded shares of Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 3rd. Zacks Investment Research downgraded shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, TheStreet raised shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $47.00.
Several institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter valued at approximately $434,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter valued at approximately $425,000. BlackRock Inc. boosted its stake in shares of Shenandoah Telecommunications by 2.4% during the 3rd quarter. BlackRock Inc. now owns 3,404,804 shares of the utilities provider’s stock valued at $131,936,000 after buying an additional 81,378 shares during the last quarter. Martingale Asset Management L P purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter valued at approximately $322,000. Finally, Vantage Investment Advisors LLC purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter valued at approximately $646,000. Institutional investors own 47.14% of the company’s stock.
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Shenandoah Telecommunications Company Profile
Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.
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