Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Up 4.3% - Time to Buy?

Shares of Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) rose 4.3% during mid-day trading on Tuesday . The stock traded as high as $13.34 and last traded at $13.31. Approximately 32,747 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 190,891 shares. The stock had previously closed at $12.76.

Analysts Set New Price Targets

SHEN has been the subject of several research analyst reports. StockNews.com raised shares of Shenandoah Telecommunications to a "sell" rating in a report on Tuesday, July 30th. BWS Financial reissued a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, August 8th.

Shenandoah Telecommunications Stock Performance

The stock has a market capitalization of $725.24 million, a price-to-earnings ratio of 3.28 and a beta of 0.67. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average is $14.66 and its two-hundred day moving average is $16.10.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) earnings per share 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 analyst estimates of $86.12 million. Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. Analysts expect that Shenandoah Telecommunications will post -0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shenandoah Telecommunications news, CEO Christopher E. French purchased 6,500 shares of the business's stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $14.94 per share, with a total value of $97,110.00. Following the transaction, the chief executive officer now directly owns 346,394 shares of the company's stock, valued at $5,175,126.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher E. French bought 5,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $14.02 per share, with a total value of $70,100.00. Following the acquisition, the chief executive officer now owns 86,485 shares in the company, valued at $1,212,519.70. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. French bought 6,500 shares of the company's stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $14.94 per share, for a total transaction of $97,110.00. Following the completion of the acquisition, the chief executive officer now owns 346,394 shares in the company, valued at $5,175,126.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 14,700 shares of company stock valued at $212,745 in the last three months. 4.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shenandoah Telecommunications

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Shenandoah Telecommunications by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider's stock valued at $95,328,000 after acquiring an additional 51,697 shares during the period. GCM Grosvenor Holdings LLC bought a new position in Shenandoah Telecommunications in the 2nd quarter valued at about $66,959,000. Dimensional Fund Advisors LP raised its holdings in Shenandoah Telecommunications by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider's stock valued at $42,070,000 after acquiring an additional 29,413 shares during the period. DAVENPORT & Co LLC raised its holdings in Shenandoah Telecommunications by 8.3% in the 1st quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider's stock valued at $16,203,000 after acquiring an additional 71,451 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Shenandoah Telecommunications by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider's stock valued at $7,621,000 after acquiring an additional 13,776 shares during the period. 61.96% of the stock is owned by institutional investors.

About Shenandoah Telecommunications

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.