Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) SVP Purchases 2,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) SVP Richard W. Mason, Jr. bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $14.73 per share, with a total value of $29,460.00. Following the purchase, the senior vice president now directly owns 14,501 shares of the company’s stock, valued at approximately $213,599.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shenandoah Telecommunications Price Performance

SHEN stock traded up $0.74 on Tuesday, reaching $14.90. The company had a trading volume of 404,056 shares, compared to its average volume of 155,854. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 4.68. The company has a market cap of $751.71 million, a P/E ratio of 3.48 and a beta of 0.61. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $25.51. The company’s fifty day moving average is $16.23 and its 200 day moving average is $19.65.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results 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 business had revenue of $72.51 million during the quarter, compared to the consensus estimate of $71.85 million. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, research analysts forecast that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Shenandoah Telecommunications

A number of hedge funds have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Shenandoah Telecommunications during the 1st quarter worth about $211,000. SG Americas Securities LLC acquired a new position in Shenandoah Telecommunications during the first quarter worth approximately $109,000. DAVENPORT & Co LLC raised its stake in Shenandoah Telecommunications by 8.3% during the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock worth $16,203,000 after purchasing an additional 71,451 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Shenandoah Telecommunications by 74.9% in the 1st quarter. BNP Paribas Financial Markets now owns 24,195 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 10,358 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Shenandoah Telecommunications by 90.8% during the 1st quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock valued at $43,000 after buying an additional 1,182 shares during the period. 61.96% of the stock is 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.