Shenandoah Telecommunications (NASDAQ:SHEN) CEO Buys $161,590.00 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN) CEO Christopher E. French purchased 11,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $14.69 per share, with a total value of $161,590.00. Following the acquisition, the chief executive officer now directly owns 319,750 shares of the company’s stock, valued at approximately $4,697,127.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN traded up $1.38 during trading on Wednesday, reaching $16.28. The stock had a trading volume of 178,446 shares, compared to its average volume of 156,004. The firm’s 50 day moving average price is $16.16 and its two-hundred day moving average price is $19.60. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $25.51. The stock has a market cap of $821.28 million, a PE ratio of 3.69 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 4.68.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results 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. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. The company had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $71.85 million. During the same period in the prior year, the company earned ($0.04) earnings per share. On average, research analysts forecast that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Monday.

Hedge Funds Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in Shenandoah Telecommunications during the 4th quarter worth $27,000. Quest Partners LLC acquired a new stake in Shenandoah Telecommunications in the fourth quarter worth about $41,000. SG Americas Securities LLC acquired a new position in Shenandoah Telecommunications during the 1st quarter valued at about $109,000. HTLF Bank bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth about $203,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter worth approximately $211,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

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.