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

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

The firm has a market cap of $2.03 billion and a P/E ratio of 46.22. The stock has a 50 day moving average price of $37.80 and a 200-day moving average price of $28.58.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Friday, April 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping 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 research analysts predict that Shenandoah Telecommunications Co. will post $1.04 earnings per share for the current year.

In other Shenandoah Telecommunications news, VP Raymond B. Ostroski sold 2,000 shares of Shenandoah Telecommunications stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $30.32, for a total transaction of $60,640.00. Following the completion of the transaction, the vice president now owns 10,906 shares in the company, valued at $330,669.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James E. Zerkel II sold 1,500 shares of Shenandoah Telecommunications stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $36.46, for a total transaction of $54,690.00. Following the transaction, the director now owns 55,645 shares of the company’s stock, valued at approximately $2,028,816.70. The disclosure for this sale can be found here.

Several large investors have recently modified their holdings of SHEN. Dimensional Fund Advisors LP increased its stake in shares of Shenandoah Telecommunications by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,361,217 shares of the company’s stock worth $58,601,000 after buying an additional 15,243 shares during the period. Aberdeen Asset Management PLC UK increased its stake 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 during the period. Mutual of America Capital Management LLC increased its stake 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 during the period. California Public Employees Retirement System increased its stake 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 during the period. Finally, California State Teachers Retirement System increased its stake 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 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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