Teacher Retirement System of Texas boosted its stake in Shenandoah Telecommunications Co. (NASDAQ:SHEN) by 13.8% during the second quarter, Holdings Channel reports. The fund owned 6,406 shares of the company’s stock after buying an additional 776 shares during the period. Teacher Retirement System of Texas’ holdings in Shenandoah Telecommunications were worth $250,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in SHEN. BlackRock Inc. boosted its stake in Shenandoah Telecommunications by 479.8% in the first quarter. BlackRock Inc. now owns 3,798 shares of the company’s stock valued at $102,000 after buying an additional 3,143 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Shenandoah Telecommunications by 77.4% in the second quarter. Victory Capital Management Inc. now owns 2,730 shares of the company’s stock valued at $107,000 after buying an additional 1,191 shares during the last quarter. Zebra Capital Management LLC purchased a new stake in Shenandoah Telecommunications during the first quarter valued at $206,000. Campbell Newman Asset Management Inc. purchased a new stake in Shenandoah Telecommunications during the second quarter valued at $215,000. Finally, Menta Capital LLC purchased a new stake in Shenandoah Telecommunications during the first quarter valued at $256,000. 42.05% of the stock is owned by institutional investors and hedge funds.
Shenandoah Telecommunications Co. (NASDAQ:SHEN) opened at 25.60 on Tuesday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 46.63 and a beta of 1.11. The firm’s 50-day moving average price is $26.26 and its 200-day moving average price is $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 earnings results 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 business earned $130.30 million during the quarter, compared to the consensus estimate of $93.96 million. Shenandoah Telecommunications had a net margin of 6.83% and a return on equity of 16.83%. Equities research analysts forecast that Shenandoah Telecommunications Co. will post $0.38 EPS for the current fiscal year.
Several analysts recently weighed in on the company. TheStreet cut Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Zacks Investment Research raised Shenandoah Telecommunications from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Wednesday, August 10th. FBR & Co cut Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $31.00 to $35.00 in a report on Monday, August 8th. Finally, 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 research note on Tuesday, August 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average 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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