Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) CFO Purchases $49,982.61 in Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN) CFO James Volk acquired 4,283 shares of Shenandoah Telecommunications stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $11.67 per share, with a total value of $49,982.61. Following the completion of the acquisition, the chief financial officer owned 92,671 shares of the company’s stock, valued at $1,081,470.57. This trade represents a 4.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN traded up $0.46 during trading hours on Monday, reaching $12.45. The stock had a trading volume of 697,347 shares, compared to its average volume of 352,436. The stock has a market cap of $689.36 million, a P/E ratio of -15.96 and a beta of 0.68. The stock has a 50 day simple moving average of $14.08 and a 200 day simple moving average of $14.19. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 0.85. Shenandoah Telecommunications Co has a 12-month low of $9.66 and a 12-month high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.11. The firm had revenue of $93.46 million for the quarter, compared to analysts’ expectations of $92.83 million. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. On average, research analysts forecast that Shenandoah Telecommunications Co will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

SHEN has been the subject of a number of research reports. Wall Street Zen lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Thursday. Craig Hallum started coverage on shares of Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shenandoah Telecommunications in a report on Friday. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SHEN. Baird Financial Group Inc. purchased a new stake in shares of Shenandoah Telecommunications in the first quarter worth $158,000. Royal Bank of Canada grew its position in Shenandoah Telecommunications by 11.8% during the first quarter. Royal Bank of Canada now owns 37,008 shares of the utilities provider’s stock worth $465,000 after buying an additional 3,904 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Shenandoah Telecommunications by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 1,248 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Shenandoah Telecommunications by 48.3% in the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock valued at $5,644,000 after acquiring an additional 146,221 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Shenandoah Telecommunications by 27.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after acquiring an additional 116,040 shares during the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.