Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Up – What’s Next?

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $14.48, but opened at $15.13. Shenandoah Telecommunications shares last traded at $15.38, with a volume of 30,558 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, August 8th. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th.

Shenandoah Telecommunications Stock Performance

The stock’s 50-day moving average is $14.46 and its 200 day moving average is $15.98. The firm has a market cap of $817.46 million, a P/E ratio of 3.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89.

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). Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. The business had revenue of $85.80 million for the quarter, compared to analyst estimates of $86.12 million. On average, research analysts predict that Shenandoah Telecommunications will post -0.26 earnings per share for the current year.

Insider Activity at Shenandoah Telecommunications

In related news, CEO Christopher E. French purchased 6,500 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $14.94 per share, with a total value of $97,110.00. Following the acquisition, the chief executive officer now directly owns 346,394 shares in the company, valued at $5,175,126.36. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Christopher E. French purchased 6,500 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $14.94 per share, with a total value of $97,110.00. Following the acquisition, the chief executive officer now directly owns 346,394 shares in the company, valued at $5,175,126.36. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Edward H. Mckay purchased 2,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the acquisition, the chief operating officer now owns 68,951 shares in the company, valued at approximately $975,656.65. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 14,700 shares of company stock worth $212,745. Insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SHEN. DAVENPORT & Co LLC increased its stake in Shenandoah Telecommunications by 8.3% in the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock valued at $16,203,000 after acquiring an additional 71,451 shares during the last quarter. Vanguard Group Inc. increased its stake in Shenandoah Telecommunications by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after purchasing an additional 51,697 shares in the last quarter. GCM Grosvenor Holdings LLC bought a new stake in shares of Shenandoah Telecommunications during the second quarter worth about $66,959,000. Mercer Global Advisors Inc. ADV increased its position in shares of Shenandoah Telecommunications by 99.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock worth $1,654,000 after acquiring an additional 50,630 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Shenandoah Telecommunications during the first quarter worth about $211,000. 61.96% of the stock is owned by institutional investors.

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.