Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Up – Should You Buy?

Shenandoah Telecommunications Co (NASDAQ:SHEN)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $13.45, but opened at $14.12. Shenandoah Telecommunications shares last traded at $13.61, with a volume of 89,243 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a report on Sunday, August 10th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $26.00.

Shenandoah Telecommunications Stock Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The company has a market cap of $752.95 million, a PE ratio of -24.59 and a beta of 0.87. The firm has a fifty day simple moving average of $13.78 and a 200-day simple moving average of $12.93.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. Shenandoah Telecommunications had a negative net margin of 8.90% and a negative return on equity of 3.78%. The business had revenue of $88.57 million for the quarter, compared to analyst estimates of $89.94 million. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. On average, research analysts forecast that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Insider Transactions at Shenandoah Telecommunications

In related news, major shareholder Ecp Controlco, Llc purchased 12,000 shares of Shenandoah Telecommunications stock in a transaction dated Friday, August 29th. The stock was bought at an average price of $13.25 per share, for a total transaction of $159,000.00. Following the completion of the acquisition, the insider directly owned 3,377,233 shares of the company’s stock, valued at $44,748,337.25. This represents a 0.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. French purchased 16,800 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $11.83 per share, for a total transaction of $198,744.00. Following the completion of the purchase, the chief executive officer directly owned 410,517 shares of the company’s stock, valued at $4,856,416.11. This represents a 4.27% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 649,375 shares of company stock worth $9,052,252 in the last quarter. 4.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Shenandoah Telecommunications by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,831 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 855 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Shenandoah Telecommunications by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock worth $256,000 after buying an additional 986 shares during the last quarter. Intech Investment Management LLC increased its position in Shenandoah Telecommunications by 2.1% in the 2nd quarter. Intech Investment Management LLC now owns 50,706 shares of the utilities provider’s stock valued at $693,000 after acquiring an additional 1,045 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Shenandoah Telecommunications by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Shenandoah Telecommunications by 3.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 42,600 shares of the utilities provider’s stock worth $535,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 61.96% of the company’s stock.

About Shenandoah Telecommunications

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.