Shenandoah Telecommunications (NASDAQ:SHEN) Shares Cross Above 200 Day Moving Average - Should You Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.30 and traded as high as $14.42. Shenandoah Telecommunications shares last traded at $13.96, with a volume of 175,570 shares changing hands.

Analysts Set New Price Targets

SHEN has been the topic of a number of research reports. BWS Financial restated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen upgraded Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th.

Shenandoah Telecommunications Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $750.48 million, a price-to-earnings ratio of -22.43 and a beta of 0.87. The stock has a 50 day simple moving average of $12.67 and a two-hundred day simple moving average of $12.30.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The firm had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. During the same period in the previous year, the business posted ($0.07) EPS. As a group, analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Shenandoah Telecommunications

In related news, major shareholder Ecp Fiber Holdings Gp, Llc acquired 6,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $13.73 per share, for a total transaction of $82,380.00. Following the transaction, the insider now directly owns 2,714,371 shares of the company's stock, valued at approximately $37,268,313.83. This trade represents a 0.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ecp Controlco, Llc purchased 26,623 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average price of $12.85 per share, with a total value of $342,105.55. Following the completion of the acquisition, the insider now directly owns 2,625,897 shares in the company, valued at $33,742,776.45. The trade was a 1.02% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 244,137 shares of company stock valued at $3,104,959. 4.51% of the stock is owned by corporate insiders.

Institutional Trading of Shenandoah Telecommunications

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Shenandoah Telecommunications by 2,104.3% during the first quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider's stock worth $2,417,000 after purchasing an additional 183,536 shares during the last quarter. Millennium Management LLC raised its stake in Shenandoah Telecommunications by 48.3% during the first quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider's stock worth $5,644,000 after acquiring an additional 146,221 shares during the period. Nuveen LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter valued at approximately $1,710,000. Goldman Sachs Group Inc. increased its stake in shares of Shenandoah Telecommunications by 27.8% in the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider's stock valued at $6,700,000 after purchasing an additional 116,040 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Shenandoah Telecommunications by 66.7% in the fourth quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider's stock valued at $3,025,000 after purchasing an additional 96,006 shares during the period. 61.96% of the stock is currently owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

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.