Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay Purchases 10,000 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average cost of $14.95 per share, for a total transaction of $149,500.00. Following the completion of the transaction, the chief operating officer now owns 66,951 shares in the company, valued at approximately $1,000,917.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN traded up $0.74 during mid-day trading on Tuesday, hitting $14.90. The company had a trading volume of 404,056 shares, compared to its average volume of 155,854. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $25.51. The stock has a market cap of $751.71 million, a price-to-earnings ratio of 3.48 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. The firm’s 50 day simple moving average is $16.23 and its two-hundred day simple moving average is $19.65.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share for the quarter, topping 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 firm had revenue of $72.51 million for the quarter, compared to analyst estimates of $71.85 million. During the same period last year, the company earned ($0.04) earnings per share. As a group, equities research analysts forecast that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at approximately $27,000. Quest Partners LLC bought a new position in Shenandoah Telecommunications in the 4th quarter worth approximately $41,000. SG Americas Securities LLC acquired a new stake in Shenandoah Telecommunications in the 1st quarter valued at approximately $109,000. HTLF Bank bought a new stake in Shenandoah Telecommunications during the 4th quarter valued at $203,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Shenandoah Telecommunications during the 1st quarter valued at $211,000. 61.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.