Edward H. Mckay Purchases 10,000 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

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

Shenandoah Telecommunications Stock Up 5.2 %

NASDAQ SHEN opened at $14.90 on Wednesday. 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 company has a market cap of $751.66 million, a price-to-earnings ratio of 3.44 and a beta of 0.61. The company has a 50 day moving average of $16.16 and a 200-day moving average of $19.60. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm 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 last year, the company earned ($0.04) EPS. On average, equities research analysts expect that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHEN. Norges Bank acquired a new stake in Shenandoah Telecommunications during the fourth quarter worth about $6,797,000. RWA Wealth Partners LLC bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth approximately $2,583,000. American Century Companies Inc. boosted its position in shares of Shenandoah Telecommunications by 25.6% during 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. DAVENPORT & Co LLC increased its stake in Shenandoah Telecommunications by 8.3% in the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock valued at $16,203,000 after acquiring an additional 71,451 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Shenandoah Telecommunications by 7.9% during the third 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 in the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

Analysts Set New Price Targets

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

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.