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

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

Shenandoah Telecommunications Stock Up 3.8%

Shenandoah Telecommunications stock opened at $12.45 on Tuesday. Shenandoah Telecommunications Co has a fifty-two week low of $9.66 and a fifty-two week high of $17.34. The firm has a market capitalization of $689.29 million, a price-to-earnings ratio of -15.96 and a beta of 0.67. The stock’s fifty day moving average is $14.01 and its two-hundred day moving average is $14.19. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 0.85.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.11. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%.The business had revenue of $93.46 million during the quarter, compared to the consensus estimate of $92.83 million. Analysts predict that Shenandoah Telecommunications Co will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently modified their holdings of SHEN. Russell Investments Group Ltd. lifted its stake 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 valued at $57,000 after buying an additional 4,206 shares during the period. Caitlin John LLC grew its stake in Shenandoah Telecommunications by 324.0% in the 4th quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 3,477 shares during the period. State of Wyoming purchased a new stake in Shenandoah Telecommunications in the 2nd quarter worth approximately $65,000. Tower Research Capital LLC TRC raised its holdings in Shenandoah Telecommunications by 80.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock valued at $68,000 after acquiring an additional 2,228 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in Shenandoah Telecommunications in the 3rd quarter valued at $67,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. BWS Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, July 30th. Craig Hallum began coverage on Shenandoah Telecommunications in a report on Thursday, April 9th. They set a “buy” rating and a $29.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research report on Friday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Shenandoah Telecommunications presently has a consensus rating of “Hold” and an average target price of $27.50.

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.