Shenandoah Telecommunications (SHEN) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a hold rating to a buy rating in a research report report published on Wednesday morning.

SHEN has been the topic of a number of other reports. BWS Financial reissued a buy rating on shares of Shenandoah Telecommunications in a research report on Monday, January 28th. B. Riley set a $50.00 price target on shares of Shenandoah Telecommunications and gave the company a buy rating in a research note on Wednesday, November 7th. ValuEngine upgraded shares of Shenandoah Telecommunications from a buy rating to a strong-buy rating in a research note on Saturday, November 10th. Finally, Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a hold rating to a strong-buy rating and set a $51.00 price target on the stock in a research note on Thursday, November 15th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $50.50.

Shares of NASDAQ SHEN opened at $48.75 on Wednesday. The firm has a market cap of $2.42 billion, a PE ratio of 187.50 and a beta of 0.53. Shenandoah Telecommunications has a twelve month low of $29.92 and a twelve month high of $51.41. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56.

In other Shenandoah Telecommunications news, Director Richard L. Koontz, Jr. sold 6,000 shares of Shenandoah Telecommunications stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the sale, the director now directly owns 25,022 shares in the company, valued at approximately $1,251,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.84% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank bought a new stake in Shenandoah Telecommunications in the 4th quarter valued at about $302,000. Public Employees Retirement System of Ohio boosted its holdings in Shenandoah Telecommunications by 471.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,761 shares of the utilities provider’s stock valued at $166,000 after purchasing an additional 3,103 shares during the period. Millennium Management LLC boosted its holdings in Shenandoah Telecommunications by 26.6% in the 4th quarter. Millennium Management LLC now owns 225,315 shares of the utilities provider’s stock valued at $9,970,000 after purchasing an additional 47,362 shares during the period. Legal & General Group Plc boosted its holdings in Shenandoah Telecommunications by 5.6% in the 4th quarter. Legal & General Group Plc now owns 18,608 shares of the utilities provider’s stock valued at $823,000 after purchasing an additional 991 shares during the period. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Shenandoah Telecommunications in the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 46.31% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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