Shenandoah Telecommunications (NASDAQ:SHEN) Raised to Hold at Wall Street Zen

Shenandoah Telecommunications (NASDAQ:SHEN) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued reports about the stock. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.50.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $13.48 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $746.32 million, a PE ratio of -17.28 and a beta of 0.68. The firm’s 50-day moving average is $13.78 and its two-hundred day moving average is $14.24. Shenandoah Telecommunications has a 1 year low of $9.66 and a 1 year high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.11. The business had revenue of $93.46 million for the quarter, compared to analysts’ expectations of $92.83 million. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. Analysts predict that Shenandoah Telecommunications will post -0.85 EPS for the current year.

Insider Activity

In related news, CFO James J. Volk acquired 4,283 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average price of $11.67 per share, for a total transaction of $49,982.61. Following the purchase, the chief financial officer owned 92,671 shares of the company’s stock, valued at $1,081,470.57. This represents a 4.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.01% of the company’s stock.

Institutional Trading of Shenandoah Telecommunications

Large investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its stake in Shenandoah Telecommunications by 1.4% during the fourth quarter. Jane Street Group LLC now owns 70,738 shares of the utilities provider’s stock worth $818,000 after purchasing an additional 948 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Shenandoah Telecommunications by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock worth $256,000 after buying an additional 986 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Shenandoah Telecommunications by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider’s stock valued at $3,077,000 after buying an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Shenandoah Telecommunications by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock valued at $364,000 after buying an additional 1,248 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Shenandoah Telecommunications by 13.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,688 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,511 shares during the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.