Shenandoah Telecommunications (NASDAQ:SHEN) Stock Crosses Above Two Hundred Day Moving Average of $16.60

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.60 and traded as high as $16.89. Shenandoah Telecommunications shares last traded at $16.40, with a volume of 376,013 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on SHEN. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reaffirmed a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, August 8th.

Shenandoah Telecommunications Stock Performance

The firm has a market capitalization of $850.75 million, a PE ratio of 3.60 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a fifty day moving average price of $16.66 and a 200 day moving average price of $16.60.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $86.12 million. Research analysts anticipate that Shenandoah Telecommunications will post -0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christopher E. French acquired 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $14.02 per share, with a total value of $70,100.00. Following the acquisition, the chief executive officer now owns 86,485 shares in the company, valued at approximately $1,212,519.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Christopher E. French acquired 6,500 shares of Shenandoah Telecommunications stock in a transaction on Friday, August 9th. The stock was bought at an average price of $14.94 per share, for a total transaction of $97,110.00. Following the transaction, the chief executive officer now owns 346,394 shares of the company’s stock, valued at $5,175,126.36. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher E. French acquired 5,000 shares of Shenandoah Telecommunications stock in a transaction on Wednesday, August 14th. The stock was purchased 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 directly owns 86,485 shares in the company, valued at approximately $1,212,519.70. The disclosure for this purchase can be found here. Insiders have bought a total of 14,700 shares of company stock valued at $212,745 in the last three months. Insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently modified their holdings of SHEN. Victory Capital Management Inc. acquired a new position in shares of Shenandoah Telecommunications in the 4th quarter worth approximately $236,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Shenandoah Telecommunications by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock worth $16,256,000 after buying an additional 42,747 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Shenandoah Telecommunications by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,420,378 shares of the utilities provider’s stock worth $52,328,000 after buying an additional 46,227 shares in the last quarter. Norges Bank acquired a new position in shares of Shenandoah Telecommunications in the 4th quarter worth approximately $6,797,000. Finally, Quest Partners LLC acquired a new position in shares of Shenandoah Telecommunications in the 4th quarter worth approximately $41,000. 61.96% of the stock is owned by institutional investors and hedge funds.

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.