Shenandoah Telecommunications (NASDAQ:SHEN) COO David L. Heimbach sold 5,331 shares of the firm's stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $50.34, for a total value of $268,362.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
SHEN traded down $0.29 during trading on Friday, hitting $49.71. The company's stock had a trading volume of 2,115 shares, compared to its average volume of 185,124. Shenandoah Telecommunications has a twelve month low of $38.77 and a twelve month high of $56.77. The business's fifty day moving average price is $49.68. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 15.20 and a beta of 0.39.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, April 29th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.95). The business had revenue of $59.69 million during the quarter, compared to analyst estimates of $59.13 million. Shenandoah Telecommunications had a net margin of 48.16% and a return on equity of 6.21%. As a group, analysts anticipate that Shenandoah Telecommunications will post 1.01 earnings per share for the current year.
SHEN has been the subject of several recent research reports. Zacks Investment Research cut Shenandoah Telecommunications from a "hold" rating to a "sell" rating in a research report on Thursday, May 6th. TheStreet cut Shenandoah Telecommunications from a "b" rating to a "c-" rating in a research report on Monday, May 3rd. Finally, B. Riley reiterated a "neutral" rating on shares of Shenandoah Telecommunications in a research report on Friday, May 14th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of "Hold" and an average price target of $53.00.
Large investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter worth approximately $29,000. Vantage Consulting Group Inc acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter worth approximately $38,000. Veriti Management LLC acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter worth approximately $68,000. Acadian Asset Management LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter worth approximately $115,000. Finally, Capital Asset Advisory Services LLC acquired a new position in Shenandoah Telecommunications during the fourth quarter worth $194,000. 53.43% of the stock is currently owned by hedge funds and other institutional investors.
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. 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.
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