Rhumbline Advisers lessened its position in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,136 shares of the utilities provider’s stock after selling 655 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Shenandoah Telecommunications worth $1,662,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of SHEN. SG Americas Securities LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at $105,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at $105,000. Suntrust Banks Inc. raised its holdings in shares of Shenandoah Telecommunications by 7.6% in the 1st quarter. Suntrust Banks Inc. now owns 9,596 shares of the utilities provider’s stock valued at $269,000 after buying an additional 681 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at $317,000. Finally, Jane Street Group LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at $508,000. Hedge funds and other institutional investors own 49.26% of the company’s stock.
Shenandoah Telecommunications Co (SHEN) opened at 35.60 on Tuesday. Shenandoah Telecommunications Co has a 1-year low of $22.05 and a 1-year high of $37.90. The firm’s market capitalization is $1.75 billion. The company’s 50-day moving average price is $35.17 and its 200 day moving average price is $31.34.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.07 EPS for the quarter, beating the 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 company had revenue of $153.30 million for the quarter, compared to analyst estimates of $153.83 million. Shenandoah Telecommunications’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities analysts anticipate that Shenandoah Telecommunications Co will post $0.10 EPS for the current year.
Several equities research analysts recently issued reports on the company. ValuEngine upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Zacks Investment Research downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Shenandoah Telecommunications has a consensus rating of “Hold” and an average price target of $35.50.
About Shenandoah Telecommunications
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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