Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Down 2.5%

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price fell 2.5% on Thursday . The company traded as low as $15.99 and last traded at $15.99. 83,862 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 180,233 shares. The stock had previously closed at $16.40.

Analysts Set New Price Targets

SHEN has been the topic of a number of analyst reports. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, August 8th.

Shenandoah Telecommunications Stock Performance

The stock has a market capitalization of $850.39 million, a P/E ratio of 3.60 and a beta of 0.67. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $16.61 and its 200 day simple moving average is $16.57.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The firm had revenue of $85.80 million for the quarter, compared to analysts’ expectations of $86.12 million. Shenandoah Telecommunications had a net margin of 68.81% and a negative return on equity of 0.48%. As a group, sell-side analysts forecast that Shenandoah Telecommunications will post -0.26 earnings per share for the current fiscal year.

Insider Transactions at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, CEO Christopher E. French bought 6,500 shares of Shenandoah Telecommunications stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $14.94 per share, with a total value of $97,110.00. Following the completion of the acquisition, the chief executive officer now owns 346,394 shares in the company, valued at $5,175,126.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Edward H. Mckay acquired 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $14.15 per share, with a total value of $28,300.00. Following the transaction, the chief operating officer now directly owns 68,951 shares in the company, valued at $975,656.65. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. French bought 6,500 shares of Shenandoah Telecommunications stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $14.94 per share, with a total value of $97,110.00. Following the completion of the acquisition, the chief executive officer now directly owns 346,394 shares in the company, valued at approximately $5,175,126.36. The disclosure for this purchase can be found here. Insiders have acquired 14,700 shares of company stock worth $212,745 in the last quarter. Company insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently bought and sold shares of the business. GCM Grosvenor Holdings LLC purchased a new stake in Shenandoah Telecommunications during the 2nd quarter valued at approximately $66,959,000. Norges Bank bought a new stake in Shenandoah Telecommunications in the 4th quarter valued at $6,797,000. DAVENPORT & Co LLC lifted its stake in Shenandoah Telecommunications by 8.3% in the 1st quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock worth $16,203,000 after purchasing an additional 71,451 shares in the last quarter. Vanguard Group Inc. lifted its stake in Shenandoah Telecommunications by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock worth $95,328,000 after purchasing an additional 51,697 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Shenandoah Telecommunications by 99.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock valued at $1,654,000 after purchasing an additional 50,630 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

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.