Shenandoah Telecommunications (NASDAQ:SHEN) CEO Purchases 2,000 Shares

Key Points

• CEO Edward Mckay purchased 2,000 shares of Shenandoah Telecommunications at an average price of $12.14, increasing his stake by 1.49% to 136,007 shares.
• SHEN shares rose to $12.45, but remain below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.17 per share, beating estimates, while revenue of $93.46 million exceeded expectations.
• Analyst sentiment is mixed, with two Buy ratings and one Sell rating, producing a consensus Hold rating and a $27.50 price target. Institutional investors own approximately 61.96% of the stock.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) CEO Edward Mckay bought 2,000 shares of the stock in a transaction dated Friday, July 31st. The stock was acquired at an average price of $12.14 per share, with a total value of $24,280.00. Following the completion of the purchase, the chief executive officer owned 136,007 shares of the company's stock, valued at $1,651,124.98. This represents a 1.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shenandoah Telecommunications Price Performance

NASDAQ SHEN traded up $0.46 on Monday, hitting $12.45. 697,347 shares of the company were exchanged, compared to its average volume of 352,436. Shenandoah Telecommunications Co has a 1-year low of $9.66 and a 1-year high of $17.34. The firm has a 50 day moving average of $14.08 and a two-hundred day moving average of $14.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.83. The company has a market cap of $689.36 million, a P/E ratio of -15.96 and a beta of 0.68.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.11. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. The firm had revenue of $93.46 million during the quarter, compared to analysts' expectations of $92.83 million. On average, equities analysts predict that Shenandoah Telecommunications Co will post -1.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen downgraded Shenandoah Telecommunications from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Shenandoah Telecommunications in a research report on Friday. Craig Hallum began coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a "buy" rating and a $29.00 price target on the stock. Finally, BWS Financial reiterated a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC raised its position in shares of Shenandoah Telecommunications by 31.1% during the fourth quarter. Gabelli Funds LLC now owns 198,530 shares of the utilities provider's stock worth $2,295,000 after purchasing an additional 47,100 shares during the period. Caitlin John LLC grew its position in shares of Shenandoah Telecommunications by 324.0% in the 4th quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 3,477 shares during the period. Bank of America Corp DE grew its position in shares of Shenandoah Telecommunications by 17.3% in the 1st quarter. Bank of America Corp DE now owns 72,872 shares of the utilities provider's stock valued at $1,124,000 after purchasing an additional 10,730 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in Shenandoah Telecommunications during the 2nd quarter worth approximately $201,000. Finally, Amundi raised its holdings in Shenandoah Telecommunications by 42.6% during the 1st quarter. Amundi now owns 15,070 shares of the utilities provider's stock worth $232,000 after buying an additional 4,503 shares during the period. 61.96% of the stock is currently owned by institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.

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