Shenandoah Telecommunications (NASDAQ:SHEN) Shares Down 4.9% – What’s Next?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares fell 4.9% during mid-day trading on Friday. The company traded as low as $11.08 and last traded at $10.96. Approximately 11,894 shares were traded during trading, a decline of 97% from the average session volume of 452,436 shares. The stock had previously closed at $11.52.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Shenandoah Telecommunications in a report on Friday, July 31st. Finally, BWS Financial restated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Shenandoah Telecommunications has a consensus rating of “Hold” and a consensus price target of $27.50.

Shenandoah Telecommunications Stock Down 9.5%

The company has a market capitalization of $577.51 million, a price-to-earnings ratio of -13.39 and a beta of 0.76. The business has a fifty day simple moving average of $12.21 and a two-hundred day simple moving average of $13.91. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.83.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.11. The business had revenue of $93.46 million during the quarter, compared to analysts’ expectations of $92.83 million. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. Equities analysts expect that Shenandoah Telecommunications Co will post -0.85 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James Volk acquired 4,283 shares of the company’s stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $11.67 per share, for a total transaction of $49,982.61. Following the completion of the purchase, the chief financial officer directly owned 92,671 shares of the company’s stock, valued at $1,081,470.57. The trade was a 4.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shenandoah Telecommunications

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in Shenandoah Telecommunications in the second quarter valued at about $1,538,000. Bank of New York Mellon Corp bought a new stake in Shenandoah Telecommunications during the second quarter worth about $4,041,000. Empowered Funds LLC acquired a new stake in shares of Shenandoah Telecommunications during the second quarter worth approximately $3,974,000. BlackRock Inc. acquired a new stake in shares of Shenandoah Telecommunications during the second quarter worth approximately $106,907,000. Finally, Bank of America Corp DE bought a new position in shares of Shenandoah Telecommunications in the second quarter valued at approximately $1,050,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, doing business as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company builds and operates broadband networks serving residential, business and institutional customers in communities across the Mid-Atlantic, including portions of Virginia, West Virginia, Maryland and Pennsylvania.

Shentel provides high-speed internet, digital video and voice services through its Glo Fiber and traditional cable broadband networks.