Shenandoah Telecommunications (NASDAQ:SHEN) CEO Buys $97,110.00 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN) CEO Christopher E. French acquired 6,500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $14.94 per share, for a total transaction of $97,110.00. Following the transaction, the chief executive officer now owns 346,394 shares of the company’s stock, valued at $5,175,126.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shenandoah Telecommunications Stock Performance

NASDAQ SHEN traded down $0.32 on Friday, hitting $15.27. 291,037 shares of the stock were exchanged, compared to its average volume of 173,397. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.68 and a quick ratio of 4.68. The business’s fifty day moving average is $17.81 and its 200 day moving average is $17.63. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The company has a market capitalization of $832.98 million, a PE ratio of 3.53 and a beta of 0.73.

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Shenandoah Telecommunications by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,869 shares of the utilities provider’s stock valued at $473,000 after acquiring an additional 1,219 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Shenandoah Telecommunications in the fourth quarter valued at about $543,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Shenandoah Telecommunications by 17.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock valued at $280,000 after acquiring an additional 1,899 shares in the last quarter. HTLF Bank bought a new stake in Shenandoah Telecommunications during the fourth quarter worth about $203,000. Finally, RWA Wealth Partners LLC bought a new stake in Shenandoah Telecommunications during the fourth quarter worth about $2,583,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SHEN. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th.

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.