Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Up – Still a Buy?

Shenandoah Telecommunications (NASDAQ:SHEN) 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 trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SHEN shares. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, August 8th.

Shenandoah Telecommunications Trading Up 3.5 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $14.46 and a 200 day simple moving average of $15.98. The firm has a market capitalization of $817.46 million, a P/E ratio of 3.87 and a beta of 0.67.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.10). The company had revenue of $85.80 million for the quarter, compared to the consensus estimate 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, research analysts forecast that Shenandoah Telecommunications will post -0.26 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Shenandoah Telecommunications in the 3rd quarter valued at approximately $37,000. Inspire Investing LLC grew its position in shares of Shenandoah Telecommunications by 34.3% in the third quarter. Inspire Investing LLC now owns 28,988 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 7,407 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Shenandoah Telecommunications in the third quarter worth about $271,000. The Manufacturers Life Insurance Company lifted its stake in shares of Shenandoah Telecommunications by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider’s stock worth $437,000 after acquiring an additional 2,155 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Shenandoah Telecommunications in the second quarter worth about $572,000. 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.