Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) CEO Buys 11,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) CEO Christopher E. French purchased 11,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $14.69 per share, for a total transaction of $161,590.00. Following the completion of the acquisition, the chief executive officer now owns 319,750 shares in the company, valued at approximately $4,697,127.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shenandoah Telecommunications Price Performance

Shares of Shenandoah Telecommunications stock opened at $16.37 on Thursday. The stock has a 50 day moving average price of $16.12 and a 200-day moving average price of $19.58. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $25.51. The stock has a market cap of $825.82 million, a price-to-earnings ratio of 3.78 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 4.68.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $72.51 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted ($0.04) earnings per share. Equities analysts expect that Shenandoah Telecommunications will post -0.05 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in Shenandoah Telecommunications in the fourth quarter worth $27,000. Quest Partners LLC bought a new stake in Shenandoah Telecommunications during the 4th quarter valued at about $41,000. SG Americas Securities LLC purchased a new stake in Shenandoah Telecommunications in the 1st quarter valued at about $109,000. HTLF Bank bought a new position in Shenandoah Telecommunications in the 4th quarter worth about $203,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Shenandoah Telecommunications during the fourth quarter valued at approximately $236,000. 61.96% of the stock is currently owned by hedge funds and other 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.