Shenandoah Telecommunications (NASDAQ:SHEN) Trading Down 2.5%

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) were down 2.5% during trading on Thursday . The stock traded as low as $15.99 and last traded at $15.99. Approximately 83,862 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 180,233 shares. The stock had previously closed at $16.40.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SHEN shares. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th. BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Thursday, August 8th.

Shenandoah Telecommunications Stock Down 3.5 %

The stock has a market cap of $863.48 million, a price-to-earnings ratio of 3.66 and a beta of 0.67. The business’s 50 day moving average is $16.70 and its 200-day moving average is $16.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data 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 firm had revenue of $85.80 million for the quarter, compared to analysts’ expectations of $86.12 million. Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. On average, sell-side analysts predict that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Insider Activity

In related news, COO Edward H. Mckay purchased 2,000 shares of Shenandoah Telecommunications stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the acquisition, the chief operating officer now directly owns 68,951 shares in the company, valued at $975,656.65. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Shenandoah Telecommunications news, CEO Christopher E. French bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $14.02 per share, with a total value of $70,100.00. Following the completion of the purchase, the chief executive officer now directly owns 86,485 shares in the company, valued at $1,212,519.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Edward H. Mckay acquired 2,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the acquisition, the chief operating officer now owns 68,951 shares in the company, valued at approximately $975,656.65. The disclosure for this purchase can be found here. Insiders purchased 14,700 shares of company stock worth $212,745 over the last ninety days. Corporate insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently modified their holdings of SHEN. Inspire Investing LLC increased its position in shares of Shenandoah Telecommunications by 5.6% during the second quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 1,138 shares during the period. GAMMA Investing LLC increased its holdings in Shenandoah Telecommunications by 90.8% during the 1st quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 1,182 shares during the period. Gamco Investors INC. ET AL raised its position in Shenandoah Telecommunications by 1.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 105,726 shares of the utilities provider’s stock valued at $1,836,000 after purchasing an additional 1,726 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Shenandoah Telecommunications in the 4th quarter valued at about $41,000. Finally, CWM LLC grew its position in shares of Shenandoah Telecommunications by 3.0% during the second quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock worth $1,182,000 after buying an additional 2,121 shares in the last quarter. 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.