Shenandoah Telecommunications (NASDAQ:SHEN) Stock Crosses Above 200-Day Moving Average of $16.60

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.60 and traded as high as $16.89. Shenandoah Telecommunications shares last traded at $16.40, with a volume of 376,013 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BWS Financial reissued a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, August 8th. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th.

Shenandoah Telecommunications Price Performance

The company has a market capitalization of $894.57 million, a PE ratio of 3.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50 day simple moving average is $16.70 and its 200 day simple moving average is $16.60.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). The company had revenue of $85.80 million during the quarter, compared to analysts’ expectations of $86.12 million. Shenandoah Telecommunications had a net margin of 68.81% and a negative return on equity of 0.48%. As a group, sell-side analysts predict that Shenandoah Telecommunications will post -0.26 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher E. French acquired 6,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $14.94 per share, with a total value of $97,110.00. Following the completion of the acquisition, the chief executive officer now owns 346,394 shares of the company’s stock, valued at $5,175,126.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Edward H. Mckay acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $14.15 per share, with a total value of $28,300.00. Following the transaction, the chief operating officer now owns 68,951 shares of the company’s stock, valued at $975,656.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. French bought 6,500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $97,110.00. Following the acquisition, the chief executive officer now owns 346,394 shares of the company’s stock, valued at approximately $5,175,126.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 14,700 shares of company stock valued at $212,745. 4.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Shenandoah Telecommunications during the 4th quarter worth $6,797,000. DAVENPORT & Co LLC raised its holdings in Shenandoah Telecommunications by 8.3% during the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock worth $16,203,000 after purchasing an additional 71,451 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Shenandoah Telecommunications by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock valued at $16,256,000 after purchasing an additional 42,747 shares during the period. Vanguard Group Inc. boosted its holdings in Shenandoah Telecommunications by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after purchasing an additional 51,697 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Shenandoah Telecommunications in the 1st quarter valued at approximately $211,000. 61.96% of the stock is 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.