Shenandoah Telecommunications Co (NASDAQ:SHEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

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 weighed in on the stock. ValuEngine upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Shenandoah Telecommunications has an average rating of “Buy” and a consensus price target of $35.50.

Shares of Shenandoah Telecommunications (NASDAQ SHEN) traded up 3.89% during midday trading on Wednesday, reaching $41.35. 204,645 shares of the company were exchanged. The company has a 50 day moving average price of $36.25 and a 200-day moving average price of $32.25. The stock’s market capitalization is $2.03 billion. Shenandoah Telecommunications has a 12-month low of $22.05 and a 12-month high of $41.80.

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

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In other Shenandoah Telecommunications news, insider Earle A. Mackenzie sold 46,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $38.93, for a total value of $1,790,780.00. Following the sale, the insider now owns 118,047 shares of the company’s stock, valued at approximately $4,595,569.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.24% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Shenandoah Telecommunications during the 1st quarter valued at approximately $105,000. Ameritas Investment Partners Inc. purchased a new position in shares of Shenandoah Telecommunications in the first quarter valued at $105,000. Pacad Investment Ltd. grew its holdings in shares of Shenandoah Telecommunications by 5.0% in the second quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 200 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Shenandoah Telecommunications by 790.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock valued at $169,000 after purchasing an additional 4,901 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its position in Shenandoah Telecommunications by 5.5% in the second quarter. Alpha Omega Wealth Management LLC now owns 5,800 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 300 shares during the last quarter. 49.26% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

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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