Shenandoah Telecommunications (NASDAQ:SHEN) Sees Large Volume Increase

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) saw unusually-strong trading volume on Friday . Approximately 83,476 shares were traded during trading, a decline of 49% from the previous session’s volume of 164,775 shares.The stock last traded at $15.97 and had previously closed at $15.77.

Analysts Set New Price Targets

Several equities analysts have weighed in on SHEN shares. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, June 11th. BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Monday, May 6th.

Shenandoah Telecommunications Trading Up 1.0 %

The stock has a market capitalization of $868.98 million, a PE ratio of 3.68 and a beta of 0.72. The firm has a 50-day moving average price of $16.21 and a 200-day moving average price of $18.24. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.33.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. The business had revenue of $69.25 million for the quarter, compared to analysts’ expectations of $71.52 million. As a group, equities analysts forecast that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.

Insider Activity

In other news, COO Edward H. Mckay acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $14.95 per share, with a total value of $149,500.00. Following the acquisition, the chief operating officer now owns 66,951 shares in the company, valued at approximately $1,000,917.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Edward H. Mckay acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $14.95 per share, with a total value of $149,500.00. Following the acquisition, the chief operating officer now owns 66,951 shares in the company, valued at approximately $1,000,917.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. French acquired 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $14.69 per share, with a total value of $161,590.00. Following the acquisition, the chief executive officer now owns 319,750 shares in the company, valued at approximately $4,697,127.50. The disclosure for this purchase can be found here. Insiders acquired a total of 37,650 shares of company stock valued at $577,135 in the last ninety days. 4.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. RWA Wealth Partners LLC purchased a new position in Shenandoah Telecommunications during the 4th quarter valued at about $2,583,000. Norges Bank bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at about $6,797,000. Charles Schwab Investment Management Inc. boosted its position in shares of Shenandoah Telecommunications by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock valued at $16,256,000 after acquiring an additional 42,747 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Shenandoah Telecommunications by 25.6% during the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock valued at $9,172,000 after acquiring an additional 90,695 shares during the last quarter. Finally, Corton Capital Inc. boosted its position in shares of Shenandoah Telecommunications by 23.7% during the 3rd quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock valued at $492,000 after acquiring an additional 4,582 shares during the last quarter. Hedge funds and other institutional investors 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.