Edward H. Mckay Acquires 10,000 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay acquired 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was 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 purchase was disclosed in a document filed with the SEC, which is available at this link.

Shenandoah Telecommunications Trading Up 9.9 %

SHEN opened at $16.37 on Thursday. The business’s 50 day moving average is $16.12 and its two-hundred day moving average is $19.58. The firm has a market cap of $825.82 million, a price-to-earnings ratio of 3.78 and a beta of 0.61. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The company has a quick ratio of 1.79, a current ratio of 4.68 and a debt-to-equity ratio of 0.33.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $71.85 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. On average, research analysts predict that Shenandoah Telecommunications will post -0.05 EPS for the current year.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Monday.

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at about $27,000. Quest Partners LLC purchased a new position in shares of Shenandoah Telecommunications during the 4th quarter worth approximately $41,000. SG Americas Securities LLC acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at approximately $109,000. HTLF Bank purchased a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at approximately $203,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Shenandoah Telecommunications during the first quarter worth $211,000. 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.