Shenandoah Telecommunications Co. (NASDAQ:SHEN)’s share price was down 4.9% during mid-day trading on Wednesday . The stock traded as low as $27.27 and last traded at $27.45, with a volume of 271,698 shares traded. The stock had previously closed at $28.87.

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

The stock’s 50 day moving average price is $37.34 and its 200-day moving average price is $30.35. The company has a market cap of $1.30 billion and a P/E ratio of 48.346.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its 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 company earned $130.30 million during the quarter, compared to analysts’ expectations of $93.96 million. On average, equities analysts anticipate that Shenandoah Telecommunications Co. will post $0.36 EPS for the current fiscal year.

In other Shenandoah Telecommunications news, Director Douglas C. Arthur sold 9,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $36.02, for a total value of $324,180.00. Following the transaction, the director now directly owns 25,679 shares of the company’s stock, valued at approximately $924,957.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Thomas A. Whitaker sold 3,000 shares of Shenandoah Telecommunications stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 19,824 shares in the company, valued at $713,664. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have modified their holdings of 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 in the last quarter. 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 in the last quarter. Finally, 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 valued at $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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