Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Down 13.2% - Here's Why

Key Points

• Shenandoah Telecommunications (NASDAQ:SHEN) saw a significant 13.2% drop in its share price during mid-day trading, falling to $12.75 from a previous close of $14.68.
• Research analysts have given mixed reviews on the stock, with one upgrading the rating to a "sell" while another maintained a "buy" rating with a target price of $26.00.
• Institutional investors control around 61.96% of the company's stock, with significant holdings recently modified by firms like American Century Companies Inc. and JPMorgan Chase & Co.

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) were down 13.2% during mid-day trading on Friday . The company traded as low as $12.54 and last traded at $12.75. Approximately 91,258 shares were traded during trading, a decline of 67% from the average daily volume of 279,361 shares. The stock had previously closed at $14.68.

Analyst Ratings Changes

SHEN has been the subject of a number of research analyst reports. BWS Financial reissued a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen raised Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a report on Saturday.

Shenandoah Telecommunications Price Performance

The stock has a market cap of $719.39 million, a price-to-earnings ratio of -23.22 and a beta of 0.90. The company has a 50-day moving average of $14.05 and a 200-day moving average of $12.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 0.73.

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

Insider Buying and Selling at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, major shareholder Ecp Controlco, Llc purchased 17,303 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $14.88 per share, for a total transaction of $257,468.64. Following the acquisition, the insider owned 3,041,694 shares of the company's stock, valued at approximately $45,260,406.72. The trade was a 0.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $13.48 per share, with a total value of $404,400.00. Following the completion of the acquisition, the insider owned 3,094,541 shares in the company, valued at approximately $41,714,412.68. The trade was a 0.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 624,307 shares of company stock worth $8,719,008 over the last 90 days. Company insiders own 4.51% of the company's stock.

Institutional Investors Weigh In On Shenandoah Telecommunications

Institutional investors and hedge funds have recently bought and sold shares of the business. Ancora Advisors LLC acquired a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $50,000. Acadian Asset Management LLC acquired a new stake in Shenandoah Telecommunications in the 1st quarter worth $76,000. New Age Alpha Advisors LLC acquired a new stake in Shenandoah Telecommunications in the 1st quarter worth $90,000. KLP Kapitalforvaltning AS acquired a new stake in Shenandoah Telecommunications in the 4th quarter worth $101,000. Finally, Two Sigma Investments LP acquired a new stake in Shenandoah Telecommunications in the 4th quarter worth $126,000. Institutional investors and hedge funds own 61.96% of the company's stock.

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.