Shenandoah Telecommunications (NASDAQ:SHEN) CFO Acquires $49,982.61 in Stock

Key Points

• CFO James Volk purchased 4,283 Shenandoah Telecommunications shares at an average price of $11.67, investing $49,982.61 and increasing his holdings by 4.85% to 92,671 shares.
• SHEN shares rose 3.8% to $12.45. The company’s latest quarterly results exceeded expectations, with a smaller-than-expected loss of $0.17 per share and revenue of $93.46 million.
• Institutional investors own 61.96% of the stock, while analyst sentiment remains mixed: two analysts rate SHEN a Buy and one rates it a Sell, producing an overall “Hold” consensus and a $27.50 price target.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) CFO James Volk bought 4,283 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $11.67 per share, with a total value of $49,982.61. Following the completion of the transaction, the chief financial officer owned 92,671 shares of the company's stock, valued at $1,081,470.57. This represents a 4.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Shenandoah Telecommunications Stock Up 3.8%

Shares of SHEN traded up $0.46 on Monday, reaching $12.45. The company's stock had a trading volume of 697,347 shares, compared to its average volume of 352,436. Shenandoah Telecommunications Co has a twelve month low of $9.66 and a twelve month high of $17.34. The stock has a market capitalization of $689.36 million, a PE ratio of -15.96 and a beta of 0.68. 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 firm has a fifty day moving average of $14.08 and a 200-day moving average of $14.19.

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

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently made changes to their positions in SHEN. Jane Street Group LLC grew its position in Shenandoah Telecommunications by 1.4% during the fourth quarter. Jane Street Group LLC now owns 70,738 shares of the utilities provider's stock valued at $818,000 after buying an additional 948 shares during the period. The Manufacturers Life Insurance Company raised its position in Shenandoah Telecommunications by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider's stock worth $256,000 after acquiring an additional 986 shares during the period. Gabelli Funds LLC boosted its stake in Shenandoah Telecommunications by 0.5% in the first quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider's stock valued at $3,077,000 after acquiring an additional 1,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Shenandoah Telecommunications by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider's stock valued at $364,000 after acquiring an additional 1,248 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Shenandoah Telecommunications by 13.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,688 shares of the utilities provider's stock valued at $147,000 after acquiring an additional 1,511 shares during the period. 61.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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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