10,400 Shares in Shenandoah Telecommunications (NASDAQ:SHEN) Acquired by Aristides Capital LLC

by · The Cerbat Gem

Aristides Capital LLC purchased a new stake in Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,400 shares of the utilities provider’s stock, valued at approximately $181,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHEN. GAMMA Investing LLC raised its stake in Shenandoah Telecommunications by 90.8% in the first quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock valued at $43,000 after buying an additional 1,182 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Shenandoah Telecommunications by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,869 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 1,219 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in Shenandoah Telecommunications by 1.7% in the first quarter. Gamco Investors INC. ET AL now owns 105,726 shares of the utilities provider’s stock valued at $1,836,000 after purchasing an additional 1,726 shares in the last quarter. Quest Partners LLC purchased a new position in Shenandoah Telecommunications in the fourth quarter valued at approximately $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Shenandoah Telecommunications by 17.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 1,899 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Shenandoah Telecommunications

In other news, CEO Christopher E. French acquired 11,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average price of $14.69 per share, with a total value of $161,590.00. Following the completion of the transaction, the chief executive officer now directly owns 319,750 shares in the company, valued at approximately $4,697,127.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Shenandoah Telecommunications news, CEO Christopher E. French bought 5,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $15.79 per share, for a total transaction of $78,950.00. Following the acquisition, the chief executive officer now owns 84,629 shares of the company’s stock, valued at approximately $1,336,291.91. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher E. French purchased 11,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $14.69 per share, with a total value of $161,590.00. Following the completion of the acquisition, the chief executive officer now owns 319,750 shares in the company, valued at approximately $4,697,127.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 37,650 shares of company stock valued at $577,135 over the last quarter. Insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ SHEN traded up $0.32 on Friday, hitting $20.78. The company’s stock had a trading volume of 135,711 shares, compared to its average volume of 176,474. The stock has a 50 day moving average of $17.59 and a 200-day moving average of $17.65. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 4.80 and a beta of 0.73. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $25.51. 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 (NASDAQ:SHEN – Get Free Report) last posted its earnings results on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The company had revenue of $69.25 million during the quarter, compared to analysts’ expectations of $71.52 million. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. As a group, research analysts predict that Shenandoah Telecommunications will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

SHEN has been the subject of several research analyst reports. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a report on Monday, June 24th. 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.

Read Our Latest Report on SHEN

Shenandoah Telecommunications Company Profile

(Free Report)

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.

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