Shenandoah Telecommunications (NASDAQ:SHEN) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) to a sell rating in a research report released on Tuesday.

Separately, BWS Financial reaffirmed a buy rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 6th.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $15.89 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.68 and a quick ratio of 4.68. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51. The company has a market capitalization of $866.80 million, a P/E ratio of 3.67 and a beta of 0.72. The firm’s 50 day simple moving average is $16.13 and its two-hundred day simple moving average is $18.49.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. The firm had revenue of $69.25 million for the quarter, compared to analysts’ expectations of $71.52 million. Research analysts expect that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.

Insider Transactions at Shenandoah Telecommunications

In other news, CEO Christopher E. French acquired 5,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $16.59 per share, for a total transaction of $82,950.00. Following the completion of the transaction, the chief executive officer now directly owns 324,750 shares of the company’s stock, valued at approximately $5,387,602.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Christopher E. French acquired 5,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $16.59 per share, for a total transaction of $82,950.00. Following the completion of the transaction, the chief executive officer now directly owns 324,750 shares of the company’s stock, valued at approximately $5,387,602.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Edward H. Mckay acquired 10,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $14.95 per share, for a total transaction of $149,500.00. Following the transaction, the chief operating officer now directly owns 66,951 shares of the company’s stock, valued at $1,000,917.45. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 37,650 shares of company stock valued at $577,135. 4.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Shenandoah Telecommunications

A number of large investors have recently made changes to their positions in SHEN. Norges Bank purchased a new stake in shares of Shenandoah Telecommunications during the fourth quarter valued at $6,797,000. RWA Wealth Partners LLC purchased a new stake in shares of Shenandoah Telecommunications during the fourth quarter valued at $2,583,000. American Century Companies Inc. boosted its stake in shares of Shenandoah Telecommunications by 25.6% during the third quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock valued at $9,172,000 after purchasing an additional 90,695 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Shenandoah Telecommunications by 8.3% during the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock valued at $16,203,000 after purchasing an additional 71,451 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Shenandoah Telecommunications by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock valued at $14,616,000 after purchasing an additional 51,827 shares during the period. 61.96% of the stock is owned by hedge funds and other 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.