Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) CEO Buys 16,800 Shares of Stock

Key Points

• CEO Christopher E. French purchased 16,800 shares of Shenandoah Telecommunications at $11.83 each, totaling $198,744, and increasing his ownership in the company to 410,517 shares.
• Following the purchase, Shenandoah Telecommunications shares rose 5.4%, trading at $12.53, with a market capitalization of approximately $687.23 million.
• The company reported a quarterly earnings of ($0.19) per share, slightly better than the consensus estimate of ($0.20), but with a negative net margin of 8.90%.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) CEO Christopher E. French acquired 16,800 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $11.83 per share, with a total value of $198,744.00. Following the completion of the acquisition, the chief executive officer owned 410,517 shares in the company, valued at $4,856,416.11. The trade was a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shenandoah Telecommunications Stock Performance

SHEN traded down $0.30 during mid-day trading on Thursday, reaching $12.59. 488,750 shares of the company traded hands, compared to its average volume of 354,088. The stock has a market capitalization of $690.69 million, a P/E ratio of -22.48 and a beta of 0.90. 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's fifty day moving average price is $14.08 and its 200-day moving average price is $12.72. Shenandoah Telecommunications Co has a 52-week low of $9.77 and a 52-week high of $16.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. The business had revenue of $88.57 million during the quarter, compared to analyst estimates of $89.94 million. Shenandoah Telecommunications had a negative net margin of 8.90% and a negative return on equity of 3.78%. On average, sell-side analysts expect that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently modified their holdings of SHEN. Ancora Advisors LLC bought a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $50,000. Acadian Asset Management LLC bought a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $76,000. Raymond James Financial Inc. bought a new stake in shares of Shenandoah Telecommunications during the 2nd quarter valued at $76,000. New Age Alpha Advisors LLC bought a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $90,000. Finally, Two Sigma Investments LP bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at $126,000. Institutional investors own 61.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BWS Financial restated a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen lowered shares of Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a report on Sunday.

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.