Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay Purchases 10,000 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay bought 10,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $14.95 per share, with a total value of $149,500.00. Following the transaction, the chief operating officer now directly owns 66,951 shares of the company’s stock, valued at $1,000,917.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shenandoah Telecommunications Trading Up 4.5 %

Shenandoah Telecommunications stock opened at $17.10 on Friday. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 4.68. The firm has a market capitalization of $862.64 million, a PE ratio of 3.95 and a beta of 0.61. The business’s 50-day simple moving average is $16.09 and its 200-day simple moving average is $19.56.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The firm had revenue of $72.51 million for the quarter, compared to analyst estimates of $71.85 million. During the same quarter last year, the firm posted ($0.04) EPS. Equities research analysts forecast that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System boosted its holdings in Shenandoah Telecommunications by 52.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,470 shares of the utilities provider’s stock valued at $408,000 after purchasing an additional 7,421 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Shenandoah Telecommunications by 31.0% during the first quarter. Avantax Advisory Services Inc. now owns 15,900 shares of the utilities provider’s stock valued at $276,000 after buying an additional 3,760 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Shenandoah Telecommunications by 14.9% in the first quarter. Inspire Investing LLC now owns 20,443 shares of the utilities provider’s stock valued at $355,000 after buying an additional 2,652 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Shenandoah Telecommunications during the first quarter worth about $211,000. Finally, SG Americas Securities LLC acquired a new stake in Shenandoah Telecommunications during the first quarter worth about $109,000. Institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Monday.

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.