Shenandoah Telecommunications (NASDAQ:SHEN) VP Acquires $10,028.40 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN) VP Derek Rieger bought 685 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $14.64 per share, with a total value of $10,028.40. Following the completion of the purchase, the vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $63,259.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shenandoah Telecommunications Trading Up 4.5 %

Shares of Shenandoah Telecommunications stock opened at $17.10 on Friday. The business has a fifty day simple moving average of $16.09 and a two-hundred day simple moving average of $19.56. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $25.51. The company has a market capitalization of $862.64 million, a price-to-earnings ratio of 3.95 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.

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

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Shenandoah Telecommunications during the fourth quarter worth $27,000. Quest Partners LLC acquired a new stake in shares of Shenandoah Telecommunications during the fourth quarter worth $41,000. SG Americas Securities LLC acquired a new stake in shares of Shenandoah Telecommunications during the first quarter worth $109,000. HTLF Bank acquired a new stake in shares of Shenandoah Telecommunications during the fourth quarter worth $203,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Shenandoah Telecommunications during the first quarter worth $211,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Wall Street Analyst Weigh In

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

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.