Victory Capital Management Inc. boosted its stake in shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) by 77.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,730 shares of the company’s stock after buying an additional 1,191 shares during the period. Victory Capital Management Inc.’s holdings in Shenandoah Telecommunications were worth $107,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in Shenandoah Telecommunications by 79.0% in the first quarter. Renaissance Technologies LLC now owns 973,820 shares of the company’s stock worth $26,050,000 after buying an additional 429,819 shares in the last quarter. BlackRock Fund Advisors increased its position in Shenandoah Telecommunications by 87.4% in the first quarter. BlackRock Fund Advisors now owns 2,029,997 shares of the company’s stock worth $54,302,000 after buying an additional 946,580 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Shenandoah Telecommunications by 100.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,175,702 shares of the company’s stock worth $31,450,000 after buying an additional 589,107 shares in the last quarter. Norges Bank bought a new position in Shenandoah Telecommunications during the fourth quarter worth $9,640,000. Finally, Bogle Investment Management L P DE bought a new position in Shenandoah Telecommunications during the first quarter worth $1,319,000. 42.04% of the stock is currently owned by institutional investors and hedge funds.
Shenandoah Telecommunications Co. (NASDAQ:SHEN) traded down 1.26% during midday trading on Friday, hitting $25.76. 16,151 shares of the stock traded hands. Shenandoah Telecommunications Co. has a 1-year low of $19.18 and a 1-year high of $42.66. The firm has a market cap of $1.26 billion, a P/E ratio of 46.92 and a beta of 1.11. The company has a 50-day moving average price of $26.24 and a 200-day moving average price of $31.06.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Friday, August 5th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.39. The firm earned $130.30 million during the quarter, compared to analysts’ expectations of $93.96 million. Shenandoah Telecommunications had a return on equity of 16.83% and a net margin of 6.83%. Analysts predict that Shenandoah Telecommunications Co. will post $0.38 EPS for the current year.
SHEN has been the topic of a number of recent analyst reports. TheStreet downgraded shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Zacks Investment Research downgraded shares of Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 11th. Raymond James Financial Inc. downgraded shares of Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 9th. Finally, FBR & Co downgraded shares of Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $31.00 to $35.00 in a research note on Monday, August 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.20.
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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