Shenandoah Telecommunications Co. (NASDAQ:SHEN) shares dropped 4.9% on Wednesday . The company traded as low as $27.27 and last traded at $27.45, with a volume of 271,698 shares changing hands. The stock had previously closed at $28.87.

A number of research analysts recently issued reports on SHEN shares. Raymond James Financial Inc. lowered shares of Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 9th. Drexel Hamilton reiterated a “buy” rating and issued a $38.00 target price on shares of Shenandoah Telecommunications in a research note on Wednesday, May 25th. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, FBR & Co raised their target price on shares of Shenandoah Telecommunications from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $35.20.

The company has a market cap of $1.32 billion and a P/E ratio of 49.16. The stock has a 50 day moving average of $37.93 and a 200-day moving average of $30.40.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Friday, August 5th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.39. The firm had revenue of $130.30 million for the quarter, compared to the consensus estimate of $93.96 million. Equities research analysts predict that Shenandoah Telecommunications Co. will post $0.53 earnings per share for the current fiscal year.

In other news, Director James E. Zerkel II sold 1,500 shares of the business’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $36.46, for a total value of $54,690.00. Following the sale, the director now owns 55,645 shares of the company’s stock, valued at $2,028,816.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $108,000.00. Following the completion of the sale, the senior vice president now directly owns 19,824 shares in the company, valued at approximately $713,664. The disclosure for this sale can be found here.

Other hedge funds have made changes to their positions in the company. Swiss National Bank raised its stake 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 Public Employees Retirement System raised 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised 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 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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