Virginia Retirement Systems ET AL acquired a new stake in shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,200 shares of the company’s stock, valued at approximately $398,000.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Shenandoah Telecommunications by 26.6% in the second quarter. Vanguard Group Inc. now owns 3,360,673 shares of the company’s stock valued at $131,268,000 after buying an additional 705,073 shares during the period. 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 valued at $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 valued at $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 valued at $26,050,000 after buying an additional 429,819 shares during the period. Finally, 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 valued at $32,119,000 after buying an additional 8,039 shares during the period. Hedge funds and other institutional investors own 42.04% of the company’s stock.
Shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) opened at 25.97 on Friday. The stock’s 50 day moving average is $26.22 and its 200-day moving average is $31.06. Shenandoah Telecommunications Co. has a 52 week low of $19.18 and a 52 week high of $42.66. The firm has a market cap of $1.27 billion, a PE ratio of 47.30 and a beta of 1.11.
Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.39. The company earned $130.30 million during the quarter, compared to analysts’ expectations of $93.96 million. Shenandoah Telecommunications had a net margin of 6.83% and a return on equity of 16.83%. On average, equities analysts predict that Shenandoah Telecommunications Co. will post $0.38 EPS for the current fiscal year.
Several equities analysts have recently issued reports on SHEN shares. Zacks Investment Research downgraded shares of Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Raymond James Financial Inc. upgraded shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a report on Tuesday, August 16th. 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 report on Monday, August 8th. Finally, TheStreet downgraded shares of 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 assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $35.20.
About Shenandoah Telecommunications
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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