Shenandoah Telecommunications Company (SHEN) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Shenandoah Telecommunications Company (NASDAQ:SHEN) from a sell rating to a hold rating in a research note released on Wednesday morning.

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. “

Separately, FBR & Co reissued a buy rating and issued a $35.00 price target on shares of Shenandoah Telecommunications Company in a research report on Friday, February 3rd. Three investment 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 Buy and a consensus target price of $35.25.

Shenandoah Telecommunications Company (NASDAQ:SHEN) traded down 0.74% on Wednesday, hitting $26.80. 43,988 shares of the stock were exchanged. Shenandoah Telecommunications Company has a 1-year low of $22.05 and a 1-year high of $42.66. The company’s 50 day moving average is $27.48 and its 200 day moving average is $27.03. The stock has a market cap of $1.31 billion, a PE ratio of 116.02 and a beta of 1.01.

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In other news, VP Adele M. Skolits sold 1,000 shares of Shenandoah Telecommunications Company stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $28.00, for a total value of $28,000.00. Following the transaction, the vice president now owns 57,572 shares of the company’s stock, valued at $1,612,016. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 7.48% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC bought a new position in shares of Shenandoah Telecommunications Company during the third quarter worth about $30,344,000. Neuberger Berman Group LLC bought a new position in shares of Shenandoah Telecommunications Company during the third quarter worth about $726,000. Crow Point Partners LLC bought a new position in shares of Shenandoah Telecommunications Company during the third quarter worth about $25,577,000. Aberdeen Asset Management PLC UK raised its position in shares of Shenandoah Telecommunications Company by 41.8% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 2,036,077 shares of the company’s stock worth $55,585,000 after buying an additional 600,023 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Shenandoah Telecommunications Company by 3.0% in the third quarter. Rhumbline Advisers now owns 49,066 shares of the company’s stock worth $1,335,000 after buying an additional 1,420 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Shenandoah Telecommunications Company 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.

5 Day Chart for NASDAQ:SHEN

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