Key Points
- CEO insider buying: Shenandoah Telecommunications CEO Edward Mckay purchased 2,000 shares at an average price of $12.14, investing $24,280 and increasing his direct stake by 1.49% to 136,007 shares.
- Quarterly results exceeded expectations: The company reported a quarterly loss of $0.17 per share, better than analysts’ expected loss of $0.28, while revenue of $93.46 million slightly surpassed estimates.
- Mixed analyst outlook: Two analysts rate SHEN as a buy and one as a sell, resulting in an overall “Hold” consensus and a $27.50 average price target; institutional investors own nearly 62% of the stock.
Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) CEO Edward Mckay bought 2,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average price of $12.14 per share, for a total transaction of $24,280.00. Following the completion of the transaction, the chief executive officer directly owned 136,007 shares of the company's stock, valued at $1,651,124.98. This trade represents a 1.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shenandoah Telecommunications Stock Up 3.8%
Shares of NASDAQ:SHEN opened at $12.45 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.83. The firm has a market cap of $689.29 million, a price-to-earnings ratio of -15.96 and a beta of 0.67. The stock's 50-day moving average price is $14.01 and its two-hundred day moving average price is $14.19. Shenandoah Telecommunications Co has a 12-month low of $9.66 and a 12-month high of $17.34.
Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.11. The company had revenue of $93.46 million during the quarter, compared to the consensus estimate of $92.83 million. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. On average, research analysts forecast that Shenandoah Telecommunications Co will post -1.08 EPS for the current year.
Analysts Set New Price Targets
A number of research firms have weighed in on SHEN. BWS Financial reaffirmed a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, July 30th. Craig Hallum initiated coverage on shares of Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a "buy" rating and a $29.00 price objective for the company. Wall Street Zen downgraded Shenandoah Telecommunications from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Shenandoah Telecommunications in a research report on Friday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.50.
Check Out Our Latest Research Report on SHEN
Institutional Trading of Shenandoah Telecommunications
Institutional investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. purchased a new position in Shenandoah Telecommunications in the first quarter valued at about $158,000. Royal Bank of Canada grew its stake in shares of Shenandoah Telecommunications by 11.8% in the first quarter. Royal Bank of Canada now owns 37,008 shares of the utilities provider's stock valued at $465,000 after buying an additional 3,904 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Shenandoah Telecommunications by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider's stock valued at $364,000 after buying an additional 1,248 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Shenandoah Telecommunications by 48.3% during the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider's stock valued at $5,644,000 after buying an additional 146,221 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Shenandoah Telecommunications by 27.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider's stock valued at $6,700,000 after buying an additional 116,040 shares during the period. 61.96% of the stock is owned by hedge funds and other institutional investors.
About Shenandoah Telecommunications
(
Get Free Report)
Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.
In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.
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