Nationwide Fund Advisors cut its position in Shenandoah Telecommunications Co. (NASDAQ:SHEN) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,393 shares of the company’s stock after selling 747 shares during the period. Nationwide Fund Advisors owned 0.08% of Shenandoah Telecommunications worth $1,539,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in SHEN. 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 during the period. 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 during the period. 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 during the period. Bank of New York Mellon Corp increased its position in Shenandoah Telecommunications by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 822,292 shares of the company’s stock worth $32,119,000 after buying an additional 8,039 shares during the period. Finally, Aberdeen Asset Management PLC UK increased its position in Shenandoah Telecommunications by 25.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 759,981 shares of the company’s stock worth $29,685,000 after buying an additional 154,805 shares during the period. Institutional investors own 42.05% of the company’s stock.
Shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) opened at 25.65 on Tuesday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 46.72 and a beta of 1.11. The stock has a 50 day moving average price of $26.26 and a 200-day moving average price of $31.09. Shenandoah Telecommunications Co. has a 1-year low of $19.18 and a 1-year high of $42.66.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.39. The firm had revenue of $130.30 million for the quarter, compared to analyst estimates 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 expect that Shenandoah Telecommunications Co. will post $0.38 earnings per share for the current fiscal year.
SHEN has been the topic of a number of research reports. Zacks Investment Research downgraded Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Raymond James Financial Inc. upgraded Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a report on Tuesday, August 16th. FBR & Co downgraded Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $31.00 to $35.00 in a report on Monday, August 8th. Finally, TheStreet downgraded Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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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