Shenandoah Telecommunications (NASDAQ:SHEN) Shares Down 5.8% – Here’s What Happened

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price was down 5.8% during trading on Monday . The stock traded as low as $12.66 and last traded at $12.67. Approximately 48,867 shares traded hands during trading, a decline of 74% from the average daily volume of 190,963 shares. The stock had previously closed at $13.45.

Analyst Ratings Changes

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

Shenandoah Telecommunications Stock Up 1.0 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $725.78 million, a price-to-earnings ratio of 3.07 and a beta of 0.67. The business’s 50-day moving average is $15.23 and its 200-day moving average is $16.23.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 0.48% and a net margin of 68.81%. As a group, equities analysts predict that Shenandoah Telecommunications will post -0.26 earnings per share for the current year.

Insider Transactions at Shenandoah Telecommunications

In other news, COO Edward H. Mckay purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $14.15 per share, with a total value of $28,300.00. Following the completion of the acquisition, the chief operating officer now owns 68,951 shares of the company’s stock, valued at approximately $975,656.65. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Shenandoah Telecommunications news, COO Edward H. Mckay purchased 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, with a total value of $28,300.00. Following the acquisition, the chief operating officer now owns 68,951 shares of the company’s stock, valued at $975,656.65. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $14.02 per share, for a total transaction of $70,100.00. Following the completion of the acquisition, the chief executive officer now owns 86,485 shares of the company’s stock, valued at $1,212,519.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 14,700 shares of company stock valued at $212,745 in the last 90 days. 4.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of large investors have recently added to or reduced their stakes in SHEN. GAMMA Investing LLC raised its position in shares of 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 last quarter. SG Americas Securities LLC acquired a new position in shares of Shenandoah Telecommunications during the first quarter valued at approximately $109,000. Aristides Capital LLC purchased a new position in shares of Shenandoah Telecommunications in the first quarter valued at approximately $181,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter worth approximately $211,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Shenandoah Telecommunications during the second quarter worth approximately $257,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

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.