Shenandoah Telecommunications (NASDAQ:SHEN) Trading Up 4.1% – Here’s Why

Shenandoah Telecommunications (NASDAQ:SHEN) shares rose 4.1% during trading on Wednesday . The company traded as high as $14.69 and last traded at $14.69. Approximately 75,442 shares traded hands during trading, a decline of 61% from the average daily volume of 191,091 shares. The stock had previously closed at $14.11.

Analyst Ratings Changes

A number of research firms recently commented on SHEN. BWS Financial reiterated 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 raised Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th.

Shenandoah Telecommunications Stock Performance

The company has a market capitalization of $775.99 million, a P/E ratio of 3.48 and a beta of 0.67. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $14.46 and a 200-day simple moving average of $15.99.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The firm had revenue of $85.80 million during the quarter, compared to analyst estimates of $86.12 million. Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. Equities analysts forecast that Shenandoah Telecommunications will post -0.26 EPS for the current year.

Insider Activity at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, CEO Christopher E. French bought 6,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $14.94 per share, with a total value of $97,110.00. Following the acquisition, the chief executive officer now owns 346,394 shares of the company’s stock, valued at $5,175,126.36. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shenandoah Telecommunications news, CEO Christopher E. French purchased 6,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $14.94 per share, for a total transaction of $97,110.00. Following the completion of the purchase, the chief executive officer now owns 346,394 shares of the company’s stock, valued at approximately $5,175,126.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $14.02 per share, with a total value of $70,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,485 shares in the company, valued at approximately $1,212,519.70. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 14,700 shares of company stock valued at $212,745. Insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Inspire Investing LLC increased its position in Shenandoah Telecommunications by 5.6% during the 2nd quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 1,138 shares during the period. GAMMA Investing LLC lifted its holdings in Shenandoah Telecommunications by 90.8% during the first quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 1,182 shares during the period. Gamco Investors INC. ET AL grew its position in Shenandoah Telecommunications by 1.7% during the first quarter. Gamco Investors INC. ET AL now owns 105,726 shares of the utilities provider’s stock valued at $1,836,000 after buying an additional 1,726 shares during the period. CWM LLC increased its stake in shares of Shenandoah Telecommunications by 3.0% during the 2nd quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 2,121 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Shenandoah Telecommunications by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider’s stock valued at $437,000 after buying an additional 2,155 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.