Emerald Acquisition Ltd. acquired a new stake in shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 98,324 shares of the company’s stock, valued at approximately $3,840,000. Emerald Acquisition Ltd. owned approximately 0.20% of Shenandoah Telecommunications as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Shenandoah Telecommunications during the fourth quarter valued at about $9,640,000. Acadian Asset Management LLC increased its position in Shenandoah Telecommunications by 59.7% in the first quarter. Acadian Asset Management LLC now owns 250,081 shares of the company’s stock valued at $6,688,000 after buying an additional 93,482 shares in the last quarter. Glenmede Trust Co. NA increased its position in Shenandoah Telecommunications by 637.7% in the first quarter. Glenmede Trust Co. NA now owns 14,754 shares of the company’s stock valued at $394,000 after buying an additional 12,754 shares in the last quarter. Malaga Cove Capital LLC increased its position in Shenandoah Telecommunications by 66.6% in the first quarter. Malaga Cove Capital LLC now owns 96,274 shares of the company’s stock valued at $2,575,000 after buying an additional 38,474 shares in the last quarter. Finally, Nisa Investment Advisors L.L.C. increased its position in Shenandoah Telecommunications by 100.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 14,200 shares of the company’s stock valued at $380,000 after buying an additional 7,100 shares in the last quarter. 42.04% of the stock is owned by institutional investors.

Shenandoah Telecommunications Co. (NASDAQ:SHEN) traded up 2.97% during mid-day trading on Wednesday, reaching $27.04. 355,423 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $27.96 and a 200-day moving average of $30.97. Shenandoah Telecommunications Co. has a one year low of $19.18 and a one year high of $42.66. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 49.25 and a beta of 1.28.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.39. The business had revenue of $130.30 million for the quarter, compared to the consensus estimate of $93.96 million. Shenandoah Telecommunications had a net margin of 6.83% and a return on equity of 16.83%. On average, equities research analysts anticipate that Shenandoah Telecommunications Co. will post $0.34 earnings per share for the current year.

Several research analysts have recently issued reports on SHEN shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, May 25th. Raymond James Financial Inc. downgraded Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 9th. Zacks Investment Research downgraded Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. FBR & Co downgraded Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $31.00 to $35.00 in a research note on Monday, August 8th. Finally, TheStreet downgraded Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $35.20.

In related news, Director Douglas C. Arthur sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $36.02, for a total value of $324,180.00. Following the completion of the sale, the director now owns 25,679 shares in the company, valued at approximately $924,957.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Zerkel II sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $36.46, for a total value of $54,690.00. Following the completion of the sale, the director now owns 55,645 shares of the company’s stock, valued at approximately $2,028,816.70. The disclosure for this sale can be found here. 7.48% of the stock is owned by corporate insiders.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company is a telecommunications holding company. The Company, through its subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers. Its segments include Wireless, which provides digital wireless service to a portion of over four-state area covering the region from Harrisburg, York and Altoona, Pennsylvania, to Harrisonburg, Virginia; Cable segment, which provides video, Internet and voice services in franchise areas in portions of Virginia, West Virginia and western Maryland, and leases fiber optic facilities throughout its service area; Wireline segment, which provides regulated and unregulated voice services, digital subscriber lines Internet access and long distance access services throughout Shenandoah county, and Other segment, which includes operations of the Company.

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