Zacks Investment Research upgraded shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

Several other equities analysts have also recently commented on SHEN. BidaskClub cut shares of Shenandoah Telecommunications from a hold rating to a sell rating in a research note on Saturday, June 24th. ValuEngine raised shares of Shenandoah Telecommunications from a sell rating to a hold rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Shenandoah Telecommunications presently has an average rating of Buy and a consensus price target of $35.00.

Shares of Shenandoah Telecommunications (SHEN) traded down 1.79% on Wednesday, hitting $38.50. 181,040 shares of the company’s stock were exchanged. The firm’s market cap is $1.89 billion. The stock’s 50 day moving average is $36.52 and its 200 day moving average is $32.43. Shenandoah Telecommunications has a 12 month low of $22.05 and a 12 month high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $153.83 million. Shenandoah Telecommunications had a negative net margin of 0.89% and a positive return on equity of 5.43%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts predict that Shenandoah Telecommunications will post $0.11 earnings per share for the current year.

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In related news, insider Earle A. Mackenzie sold 46,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $38.93, for a total transaction of $1,790,780.00. Following the completion of the transaction, the insider now owns 118,047 shares of the company’s stock, valued at $4,595,569.71. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 7.24% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. purchased a new position in Shenandoah Telecommunications in the 1st quarter worth approximately $105,000. SG Americas Securities LLC purchased a new position in Shenandoah Telecommunications in the 1st quarter worth approximately $105,000. Pacad Investment Ltd. grew its stake in Shenandoah Telecommunications by 5.0% in the 2nd quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock worth $129,000 after buying an additional 200 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Shenandoah Telecommunications by 790.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock worth $169,000 after buying an additional 4,901 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC grew its stake in Shenandoah Telecommunications by 5.5% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 5,800 shares of the utilities provider’s stock worth $178,000 after buying an additional 300 shares in the last quarter. 49.26% of the stock is owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.

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