Shenandoah Telecommunications (NASDAQ:SHEN) Trading Up 4.1% - Here's Why

Shares of Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) were up 4.1% during mid-day trading on Wednesday . The stock traded as high as $14.69 and last traded at $14.69. Approximately 75,442 shares changed hands during trading, a decline of 61% from the average daily volume of 191,091 shares. The stock had previously closed at $14.11.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SHEN shares. BWS Financial reiterated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, August 8th. StockNews.com upgraded shares of Shenandoah Telecommunications to a "sell" rating in a report on Tuesday, July 30th.

Shenandoah Telecommunications Stock Performance

The company has a market capitalization of $789.84 million, a PE ratio of 3.34 and a beta of 0.67. The business's fifty day moving average is $14.46 and its two-hundred day moving average is $15.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings data 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). Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. The firm had revenue of $85.80 million during the quarter, compared to analysts' expectations of $86.12 million. Equities research analysts predict that Shenandoah Telecommunications will post -0.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Christopher E. French bought 5,000 shares of the business's stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $14.02 per share, with a total value of $70,100.00. Following the transaction, the chief executive officer now owns 86,485 shares in the company, valued at approximately $1,212,519.70. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Christopher E. French bought 5,000 shares of the business's stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $14.02 per share, with a total value of $70,100.00. Following the transaction, the chief executive officer now owns 86,485 shares in the company, valued at approximately $1,212,519.70. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher E. French bought 6,500 shares of the business's stock in a transaction on Friday, August 9th. The stock was bought 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 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. In the last quarter, insiders purchased 14,700 shares of company stock valued at $212,745. Company insiders own 4.37% of the company's stock.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds have recently modified their holdings of the business. DAVENPORT & Co LLC grew its position in shares of Shenandoah Telecommunications by 8.3% during 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. Vanguard Group Inc. boosted 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 worth $95,328,000 after buying an additional 51,697 shares during the period. GCM Grosvenor Holdings LLC bought a new position in Shenandoah Telecommunications in the 2nd quarter worth $66,959,000. Mercer Global Advisors Inc. ADV boosted its holdings in Shenandoah Telecommunications by 99.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider's stock worth $1,654,000 after buying an additional 50,630 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Shenandoah Telecommunications in the 1st quarter worth $211,000. Institutional investors own 61.96% of the company's stock.

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.