Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) CFO Acquires $49,982.61 in Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN) CFO James Volk purchased 4,283 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $11.67 per share, with a total value of $49,982.61. Following the completion of the acquisition, the chief financial officer owned 92,671 shares in the company, valued at approximately $1,081,470.57. This represents a 4.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Shenandoah Telecommunications Trading Down 3.0%

NASDAQ:SHEN opened at $13.00 on Thursday. The stock has a market cap of $719.81 million, a price-to-earnings ratio of -16.67 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 debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50-day simple moving average is $13.89 and its 200 day simple moving average is $14.22.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.11. The firm had revenue of $93.46 million during the quarter, compared to analyst estimates of $92.83 million. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. As a group, sell-side analysts predict that Shenandoah Telecommunications Co will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wealthcare Advisory Partners LLC bought a new stake in shares of Shenandoah Telecommunications during the 2nd quarter valued at about $201,000. Graves Light Lenhart Wealth Inc. boosted its position in shares of Shenandoah Telecommunications by 11.4% during the second quarter. Graves Light Lenhart Wealth Inc. now owns 24,140 shares of the utilities provider’s stock worth $364,000 after buying an additional 2,475 shares during the period. Bank of America Corp DE grew its stake in shares of Shenandoah Telecommunications by 17.3% in the first quarter. Bank of America Corp DE now owns 72,872 shares of the utilities provider’s stock worth $1,124,000 after purchasing an additional 10,730 shares in the last quarter. Amundi increased its stake in Shenandoah Telecommunications by 42.6% during the 1st quarter. Amundi now owns 15,070 shares of the utilities provider’s stock valued at $232,000 after buying an additional 4,503 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Shenandoah Telecommunications by 8.6% during the first quarter. Empowered Funds LLC now owns 247,665 shares of the utilities provider’s stock valued at $3,819,000 after acquiring an additional 19,533 shares during the period. 61.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. Wall Street Zen cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Craig Hallum began coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They issued a “buy” rating and a $29.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average 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.