Shenandoah Telecommunications Co. (NASDAQ:SHEN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $41.07 and last traded at $40.98, with a volume of 63,573 shares changing hands. The stock had previously closed at $40.84.

A number of brokerages have recently issued reports on SHEN. FBR & Co upped their target price on shares of Shenandoah Telecommunications from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $38.00 target price on shares of Shenandoah Telecommunications in a report on Wednesday, May 25th. Raymond James Financial Inc. cut shares of Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a report on Thursday, June 9th. Finally, Macquarie began coverage on shares of Shenandoah Telecommunications in a report on Tuesday, April 5th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $38.50.

The company has a market cap of $2.02 billion and a PE ratio of 46.02. The firm’s 50-day moving average is $34.99 and its 200-day moving average is $27.24.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Friday, April 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $92.57 million for the quarter, compared to analyst estimates of $89.74 million. Equities analysts anticipate that Shenandoah Telecommunications Co. will post $1.04 earnings per share for the current year.

In other news, Director Douglas C. Arthur sold 9,000 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $36.02, for a total transaction of $324,180.00. Following the completion of the transaction, the director now directly owns 25,679 shares in the company, valued at $924,957.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Thomas A. Whitaker sold 3,000 shares of Shenandoah Telecommunications stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $36.00, for a total transaction of $108,000.00. Following the transaction, the senior vice president now owns 19,824 shares of the company’s stock, valued at $713,664. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have modified their holdings of the stock. Swiss National Bank boosted its position in shares of Shenandoah Telecommunications by 10.5% in the fourth quarter. Swiss National Bank now owns 30,486 shares of the company’s stock worth $1,312,000 after buying an additional 2,886 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Shenandoah Telecommunications by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 44,819 shares of the company’s stock worth $1,929,000 after buying an additional 759 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Shenandoah Telecommunications by 23.3% in the fourth quarter. California Public Employees Retirement System now owns 68,700 shares of the company’s stock worth $2,958,000 after buying an additional 13,000 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Shenandoah Telecommunications by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 83,262 shares of the company’s stock worth $3,584,000 after buying an additional 497 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of Shenandoah Telecommunications by 1.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 237,295 shares of the company’s stock worth $11,224,000 after buying an additional 4,344 shares in the last quarter.

Shenandoah Telecommunications Company is a diversified telecommunications holding company. The Company provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania and western Maryland.

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