Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) COO Buys 2,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the transaction, the chief operating officer now owns 68,951 shares of the company’s stock, valued at $975,656.65. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Shenandoah Telecommunications Trading Up 2.6 %

Shares of SHEN opened at $14.37 on Friday. The firm has a market cap of $783.84 million, a price-to-earnings ratio of 3.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. Shenandoah Telecommunications has a fifty-two week low of $11.87 and a fifty-two week high of $25.51. The firm has a 50 day moving average price of $17.38 and a 200-day moving average price of $17.41.

Institutional Trading of Shenandoah Telecommunications

Several hedge funds have recently added to or reduced their stakes in SHEN. GAMMA Investing LLC bought a new stake in Shenandoah Telecommunications in the 4th quarter worth $27,000. Quest Partners LLC purchased a new stake in shares of Shenandoah Telecommunications during the fourth quarter worth about $41,000. SG Americas Securities LLC bought a new stake in shares of Shenandoah Telecommunications in the first quarter worth about $109,000. HTLF Bank purchased a new position in Shenandoah Telecommunications during the 4th quarter valued at about $203,000. Finally, Aristides Capital LLC bought a new position in Shenandoah Telecommunications during the 1st quarter valued at approximately $181,000. 61.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SHEN has been the subject of several recent analyst reports. BWS Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, August 8th. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th.

Shenandoah Telecommunications Company Profile

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.