Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) SVP Buys 2,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) SVP Richard W. Mason, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $14.73 per share, with a total value of $29,460.00. Following the purchase, the senior vice president now directly owns 14,501 shares in the company, valued at approximately $213,599.73. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shenandoah Telecommunications Stock Performance

Shares of 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. The stock has a market capitalization of $825.82 million, a price-to-earnings ratio of 3.78 and a beta of 0.61. Shenandoah Telecommunications has a 52-week low of $11.87 and a 52-week 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.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $72.51 million during the quarter, compared to analyst estimates of $71.85 million. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. During the same period last year, the business earned ($0.04) earnings per share. Research analysts forecast that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Shenandoah Telecommunications

Several large investors have recently added to or reduced their stakes in SHEN. Dimensional Fund Advisors LP raised its holdings in shares of Shenandoah Telecommunications by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,420,378 shares of the utilities provider’s stock valued at $52,328,000 after acquiring an additional 46,227 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Shenandoah Telecommunications by 8.3% in the 1st quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock worth $16,203,000 after buying an additional 71,451 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Shenandoah Telecommunications by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock worth $16,256,000 after buying an additional 42,747 shares during the last quarter. American Century Companies Inc. raised its position in shares of Shenandoah Telecommunications by 25.6% during the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock valued at $9,172,000 after buying an additional 90,695 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth $6,797,000. 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.