Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay Purchases 10,000 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of $14.95 per share, for a total transaction of $149,500.00. Following the completion of the transaction, the chief operating officer now directly owns 66,951 shares in the company, valued at $1,000,917.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shenandoah Telecommunications Stock Up 5.2 %

Shares of SHEN stock opened at $14.90 on Wednesday. The stock has a market cap of $751.66 million, a P/E ratio of 3.44 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.68 and a quick ratio of 1.79. The stock has a fifty day moving average price of $16.16 and a 200 day moving average price of $19.60. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results 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. The business had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $71.85 million. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Analysts predict that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Monday.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently modified their holdings of SHEN. RWA Wealth Partners LLC acquired a new position in Shenandoah Telecommunications during the fourth quarter worth $2,583,000. Illinois Municipal Retirement Fund acquired a new position in Shenandoah Telecommunications in the third quarter valued at about $650,000. American Century Companies Inc. grew its stake in Shenandoah Telecommunications by 25.6% during the third quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after buying an additional 90,695 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Shenandoah Telecommunications by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock worth $14,616,000 after buying an additional 51,827 shares in the last quarter. Finally, Corton Capital Inc. boosted its holdings in shares of Shenandoah Telecommunications by 23.7% in the 3rd quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 4,582 shares in the last quarter. 61.96% of the stock is 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.