Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) President Christopher E. French acquired 11,670 shares of the stock in a transaction dated Monday, June 13th. The shares were purchased at an average price of $21.43 per share, for a total transaction of $250,088.10. Following the completion of the purchase, the president now directly owns 212,096 shares in the company, valued at $4,545,217.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NASDAQ SHEN traded down $1.27 during trading on Monday, reaching $21.37. The company’s stock had a trading volume of 256,596 shares, compared to its average volume of 248,764. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 1.13 and a beta of 0.38. Shenandoah Telecommunications has a 12 month low of $17.06 and a 12 month high of $61.53. The firm has a 50 day moving average price of $22.42 and a 200 day moving average price of $23.15.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The business had revenue of $64.41 million during the quarter, compared to the consensus estimate of $62.72 million. Shenandoah Telecommunications had a net margin of 378.97% and a return on equity of 1.64%. During the same period in the prior year, the firm earned $0.06 EPS. As a group, research analysts anticipate that Shenandoah Telecommunications will post 0.05 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in Shenandoah Telecommunications in the 4th quarter valued at about $35,000. Copeland Capital Management LLC bought a new stake in Shenandoah Telecommunications in the 1st quarter valued at about $37,000. Lazard Asset Management LLC bought a new stake in Shenandoah Telecommunications in the 4th quarter valued at about $45,000. UBS Group AG boosted its holdings in Shenandoah Telecommunications by 100.6% in the 3rd quarter. UBS Group AG now owns 1,440 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 722 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Shenandoah Telecommunications by 26.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,301 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 477 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on SHEN. BWS Financial lowered shares of Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $26.25 to $16.00 in a research note on Wednesday, March 2nd. Raymond James upgraded shares of Shenandoah Telecommunications from an “outperform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, May 3rd. StockNews.com began coverage on shares of Shenandoah Telecommunications in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, B. Riley lowered shares of Shenandoah Telecommunications from a “buy” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $21.00 in a research note on Monday, May 2nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.67.
About Shenandoah Telecommunications (Get Rating)
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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.