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

Shenandoah Telecommunications Co (NASDAQ:SHEN) CEO Edward Mckay bought 2,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $12.14 per share, with a total value of $24,280.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shenandoah Telecommunications Trading Up 7.6%

NASDAQ SHEN opened at $13.40 on Wednesday. The firm has a market capitalization of $741.96 million, a PE ratio of -17.18 and a beta of 0.68. Shenandoah Telecommunications Co has a one year low of $9.66 and a one year high of $17.34. The company has a 50-day simple moving average of $13.95 and a 200-day simple moving average of $14.21. 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 issued its earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.11. The company had revenue of $93.46 million during the quarter, compared to the consensus estimate of $92.83 million. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. On average, equities analysts forecast that Shenandoah Telecommunications Co will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Shenandoah Telecommunications by 11,367.6% in the third quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 4,206 shares in the last quarter. Caitlin John LLC lifted its position in Shenandoah Telecommunications by 324.0% in the fourth quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,477 shares during the period. State of Wyoming acquired a new stake in Shenandoah Telecommunications in the second quarter worth approximately $65,000. Tower Research Capital LLC TRC boosted its stake in Shenandoah Telecommunications by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 2,228 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Shenandoah Telecommunications during the 3rd quarter valued at $67,000. 61.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHEN has been the subject of a number of analyst reports. Craig Hallum assumed coverage on shares of Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a “buy” rating and a $29.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday. BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, July 30th. Finally, Wall Street Zen cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company 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.