Derek Rieger Acquires 685 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) VP Derek Rieger purchased 685 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of $14.64 per share, with a total value of $10,028.40. Following the acquisition, the vice president now owns 4,321 shares in the company, valued at $63,259.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shenandoah Telecommunications Stock Up 9.9 %

Shares of NASDAQ SHEN opened at $16.37 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 4.68. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $25.51. The stock’s 50-day simple moving average is $16.12 and its 200-day simple moving average is $19.58. The firm has a market cap of $825.82 million, a price-to-earnings ratio of 3.78 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share 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 during the quarter, compared to analyst estimates of $71.85 million. During the same quarter last year, the firm earned ($0.04) EPS. As a group, equities analysts anticipate that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently made changes to their positions in SHEN. State Board of Administration of Florida Retirement System increased its position in shares of 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 worth $408,000 after purchasing an additional 7,421 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of Shenandoah Telecommunications by 31.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 15,900 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 3,760 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Shenandoah Telecommunications by 14.9% in the 1st quarter. Inspire Investing LLC now owns 20,443 shares of the utilities provider’s stock valued at $355,000 after acquiring an additional 2,652 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at approximately $211,000. Finally, SG Americas Securities LLC bought a new position in Shenandoah Telecommunications during the first quarter worth $109,000. 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.