B. Riley began coverage on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a report published on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $46.00 price target on the utilities provider’s stock.

Several other research analysts have also weighed in on SHEN. BidaskClub lowered Shenandoah Telecommunications from a hold rating to a sell rating in a research report on Wednesday, May 16th. Zacks Investment Research lowered Shenandoah Telecommunications from a hold rating to a sell rating in a research report on Thursday, May 17th. ValuEngine raised Shenandoah Telecommunications from a hold rating to a buy rating in a research report on Thursday, May 31st. Finally, TheStreet raised Shenandoah Telecommunications from a c+ rating to a b- rating in a research report on Friday, August 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $45.67.

Shares of SHEN opened at $38.80 on Thursday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.36 and a current ratio of 1.41. The firm has a market capitalization of $1.86 billion, a P/E ratio of 79.89 and a beta of 0.45. Shenandoah Telecommunications has a twelve month low of $29.92 and a twelve month high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Tuesday, August 7th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.06. The business had revenue of $154.03 million for the quarter, compared to analyst estimates of $152.83 million. Shenandoah Telecommunications had a return on equity of 6.34% and a net margin of 12.60%. equities research analysts expect that Shenandoah Telecommunications will post 0.55 EPS for the current year.

In related news, VP Richard A. Baughman sold 6,000 shares of the stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $32.65, for a total value of $195,900.00. Following the completion of the sale, the vice president now directly owns 42,624 shares in the company, valued at approximately $1,391,673.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Edward H. Mckay sold 2,000 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $36.75, for a total value of $73,500.00. Following the completion of the sale, the senior vice president now owns 17,959 shares of the company’s stock, valued at $659,993.25. The disclosure for this sale can be found here. Insiders sold a total of 22,215 shares of company stock worth $791,907 over the last ninety days. Corporate insiders own 6.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in Shenandoah Telecommunications by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 46,763 shares of the utilities provider’s stock valued at $1,529,000 after purchasing an additional 1,495 shares in the last quarter. Swiss National Bank increased its holdings in Shenandoah Telecommunications by 3.4% in the 1st quarter. Swiss National Bank now owns 81,272 shares of the utilities provider’s stock valued at $2,926,000 after purchasing an additional 2,700 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Shenandoah Telecommunications by 30.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,814 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 3,007 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in Shenandoah Telecommunications by 17.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 23,367 shares of the utilities provider’s stock valued at $764,000 after purchasing an additional 3,392 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Shenandoah Telecommunications by 4.5% in the 1st quarter. California Public Employees Retirement System now owns 104,795 shares of the utilities provider’s stock valued at $3,773,000 after purchasing an additional 4,508 shares in the last quarter. Hedge funds and other institutional investors own 46.91% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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