Shenandoah Telecommunications Co. (NASDAQ:SHEN) shares traded down 3.2% during mid-day trading on Thursday . The company traded as low as $39.44 and last traded at $39.75, with a volume of 360,371 shares changing hands. The stock had previously closed at $41.06.

A number of research firms have weighed in on SHEN. Macquarie began coverage on Shenandoah Telecommunications in a report on Tuesday, April 5th. They issued a “neutral” rating on the stock. FBR & Co increased their target price on Shenandoah Telecommunications from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 2nd. Zacks Investment Research downgraded Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Drexel Hamilton reissued a “buy” rating and issued a $38.00 target price on shares of Shenandoah Telecommunications in a report on Wednesday, May 25th. Finally, Raymond James Financial Inc. downgraded Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a report on Thursday, June 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Shenandoah Telecommunications has an average rating of “Buy” and a consensus target price of $38.50.

The company has a 50-day moving average of $37.56 and a 200-day moving average of $28.43. The company has a market cap of $1.95 billion and a PE ratio of 44.32.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Friday, April 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The company earned $92.57 million during the quarter, compared to analysts’ expectations of $89.74 million. On average, analysts expect that Shenandoah Telecommunications Co. will post $1.04 EPS for the current fiscal year.

In related news, VP Raymond B. Ostroski sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $30.32, for a total transaction of $60,640.00. Following the transaction, the vice president now directly owns 10,906 shares in the company, valued at approximately $330,669.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Thomas A. Whitaker sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $36.00, for a total value of $108,000.00. Following the transaction, the senior vice president now owns 19,824 shares in the company, valued at $713,664. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have made changes to their positions in the company. Swiss National Bank increased 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 valued at $1,312,000 after buying an additional 2,886 shares during the period. California State Teachers Retirement System increased 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 valued at $1,929,000 after buying an additional 759 shares during the period. California Public Employees Retirement System increased 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 valued at $2,958,000 after buying an additional 13,000 shares during the period. Mutual of America Capital Management LLC increased 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 valued at $3,584,000 after buying an additional 497 shares during the period. Finally, Aberdeen Asset Management PLC UK increased 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 valued at $11,224,000 after buying an additional 4,344 shares during the period.

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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