Aristides Capital LLC Takes $181,000 Position in Shenandoah Telecommunications (NASDAQ:SHEN)

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

A number of other institutional investors have also made changes to their positions in SHEN. RWA Wealth Partners LLC bought a new position in Shenandoah Telecommunications during the fourth quarter worth about $2,583,000. Norges Bank acquired a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at approximately $6,797,000. DAVENPORT & Co LLC boosted its stake in Shenandoah Telecommunications by 8.3% during the 1st quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock worth $16,203,000 after acquiring an additional 71,451 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Shenandoah Telecommunications by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock valued at $16,256,000 after purchasing an additional 42,747 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Shenandoah Telecommunications by 74.9% in the first quarter. BNP Paribas Financial Markets now owns 24,195 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 10,358 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SHEN. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Monday, June 24th. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, May 6th.

Shenandoah Telecommunications Stock Up 1.6 %

SHEN stock traded up $0.32 during mid-day trading on Friday, hitting $20.78. 135,711 shares of the company were exchanged, compared to its average volume of 176,474. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.68 and a current ratio of 4.68. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51. The firm’s 50 day simple moving average is $17.59 and its 200 day simple moving average is $17.65. The firm has a market cap of $1.13 billion, a P/E ratio of 4.80 and a beta of 0.73.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The company had revenue of $69.25 million for the quarter, compared to analyst estimates of $71.52 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. On average, sell-side analysts predict that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher E. French acquired 5,000 shares of the stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $15.79 per share, for a total transaction of $78,950.00. Following the purchase, the chief executive officer now directly owns 84,629 shares of the company’s stock, valued at $1,336,291.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Shenandoah Telecommunications news, SVP Richard W. Mason, Jr. purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average price of $14.73 per share, for a total transaction of $29,460.00. Following the purchase, the senior vice president now owns 14,501 shares in the company, valued at $213,599.73. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. French acquired 5,000 shares of Shenandoah Telecommunications stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $15.79 per share, with a total value of $78,950.00. Following the completion of the transaction, the chief executive officer now owns 84,629 shares of the company’s stock, valued at $1,336,291.91. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 37,650 shares of company stock worth $577,135. Corporate insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Company Profile

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.