Shenandoah Telecommunications Co. (NASDAQ:SHEN) shares dropped 3.1% during mid-day trading on Thursday . The company traded as low as $28.07 and last traded at $28.36, with a volume of 229,291 shares changing hands. The stock had previously closed at $29.28.

SHEN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Raymond James Financial Inc. cut Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 9th. Drexel Hamilton reaffirmed a “buy” rating and set a $38.00 price objective on shares of Shenandoah Telecommunications in a research report on Wednesday, May 25th. Finally, FBR & Co cut Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $31.00 to $35.00 in a research report on Monday, August 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Shenandoah Telecommunications currently has a consensus rating of “Hold” and an average price target of $38.80.

The company has a 50 day moving average price of $38.38 and a 200 day moving average price of $30.20. The company has a market cap of $1.38 billion and a PE ratio of 51.46.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Friday, August 5th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.39. The company had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $93.96 million. Equities analysts predict that Shenandoah Telecommunications Co. will post $0.57 earnings per share for the current year.

In related news, SVP Thomas A. Whitaker sold 3,000 shares of the stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $36.00, for a total value of $108,000.00. Following the completion of the transaction, the senior vice president now owns 19,824 shares of the company’s stock, valued at approximately $713,664. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Zerkel II sold 1,500 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $36.46, for a total transaction of $54,690.00. Following the completion of the transaction, the director now directly 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 hedge funds and institutional investors have made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position 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 last quarter. California Public Employees Retirement System raised its stake in 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, Swiss National Bank raised its stake in 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 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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