Shenandoah Telecommunications (NASDAQ:SHEN) VP Thomas A. Whitaker Sells 6,627 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) VP Thomas A. Whitaker sold 6,627 shares of the firm’s stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $50.61, for a total transaction of $335,392.47. Following the transaction, the vice president now directly owns 36,492 shares of the company’s stock, valued at $1,846,860.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SHEN opened at $50.00 on Friday. The firm has a market cap of $2.50 billion, a PE ratio of 15.20 and a beta of 0.39. Shenandoah Telecommunications has a 1-year low of $38.77 and a 1-year high of $56.77. The company has a 50-day moving average of $49.68.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Thursday, April 29th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.95). The business had revenue of $59.69 million for the quarter, compared to analyst estimates of $59.13 million. Shenandoah Telecommunications had a return on equity of 6.21% and a net margin of 48.16%. Equities research analysts expect that Shenandoah Telecommunications will post 1.01 earnings per share for the current fiscal year.

A number of research firms have recently commented on SHEN. B. Riley reaffirmed a “neutral” rating on shares of Shenandoah Telecommunications in a report on Friday, May 14th. TheStreet downgraded shares of Shenandoah Telecommunications from a “b” rating to a “c-” rating in a report on Monday, May 3rd. Finally, Zacks Investment Research cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Thursday, May 6th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.00.

A number of hedge funds and other institutional investors have recently modified their holdings of SHEN. Norges Bank acquired a new position in Shenandoah Telecommunications during the fourth quarter valued at approximately $31,136,000. BlackRock Inc. lifted its stake in Shenandoah Telecommunications by 3.3% in the fourth quarter. BlackRock Inc. now owns 7,737,351 shares of the utilities provider’s stock valued at $334,640,000 after buying an additional 244,937 shares in the last quarter. Morgan Stanley lifted its stake in Shenandoah Telecommunications by 143.9% in the fourth quarter. Morgan Stanley now owns 369,116 shares of the utilities provider’s stock valued at $15,964,000 after buying an additional 217,765 shares in the last quarter. FMR LLC lifted its stake in Shenandoah Telecommunications by 13.5% in the first quarter. FMR LLC now owns 954,614 shares of the utilities provider’s stock valued at $42,346,000 after buying an additional 113,516 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Shenandoah Telecommunications by 131.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 121,456 shares of the utilities provider’s stock valued at $5,928,000 after buying an additional 68,892 shares in the last quarter. Hedge funds and other institutional investors own 53.43% 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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.

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