Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) COO Buys 10,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $14.95 per share, for a total transaction of $149,500.00. Following the completion of the purchase, the chief operating officer now directly owns 66,951 shares of the company’s stock, valued at $1,000,917.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shenandoah Telecommunications Price Performance

NASDAQ:SHEN traded up $0.74 on Tuesday, hitting $14.90. The company had a trading volume of 404,056 shares, compared to its average volume of 155,854. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The stock has a market capitalization of $751.71 million, a price-to-earnings ratio of 3.48 and a beta of 0.61. The company has a current ratio of 4.68, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $16.23 and a two-hundred day moving average of $19.65.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $72.51 million for the quarter, compared to analyst estimates of $71.85 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, research analysts anticipate that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently added to or reduced their stakes in SHEN. RWA Wealth Partners LLC acquired a new position in shares of Shenandoah Telecommunications in the 4th quarter worth approximately $2,583,000. Illinois Municipal Retirement Fund acquired a new stake in Shenandoah Telecommunications during the 3rd quarter worth about $650,000. American Century Companies Inc. raised its position in shares of Shenandoah Telecommunications by 25.6% in the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after acquiring an additional 90,695 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Shenandoah Telecommunications by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock valued at $14,616,000 after purchasing an additional 51,827 shares during the period. Finally, Corton Capital Inc. boosted its position in shares of Shenandoah Telecommunications by 23.7% during the 3rd quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock valued at $492,000 after purchasing an additional 4,582 shares in the last quarter. 61.96% of the stock is owned by institutional investors.

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.