Christopher E. French Buys 11,000 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

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

Shenandoah Telecommunications Price Performance

Shares of SHEN stock opened at $17.10 on Friday. The stock has a 50-day moving average price of $16.09 and a 200 day moving average price of $19.56. The company has a quick ratio of 1.79, a current ratio of 4.68 and a debt-to-equity ratio of 0.33. The firm has a market cap of $862.64 million, a price-to-earnings ratio of 3.95 and a beta of 0.61. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced 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 during 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 period last year, the company earned ($0.04) earnings per share. Research analysts expect that Shenandoah Telecommunications will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in shares of Shenandoah Telecommunications during the 4th quarter worth about $27,000. Quest Partners LLC acquired a new position in shares of Shenandoah Telecommunications during the 4th quarter worth about $41,000. SG Americas Securities LLC acquired a new position in shares of Shenandoah Telecommunications during the 1st quarter worth about $109,000. HTLF Bank acquired a new position in shares of Shenandoah Telecommunications during the 4th quarter worth about $203,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Shenandoah Telecommunications during the 4th quarter worth about $236,000. 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.