Shenandoah Telecommunications Company (SHEN) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Shenandoah Telecommunications Company (NASDAQ:SHEN) from a sell rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

Separately, FBR & Co reissued a buy rating and issued a $35.00 target price on shares of Shenandoah Telecommunications Company in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Shenandoah Telecommunications Company presently has a consensus rating of Buy and an average target price of $35.25.

Shares of Shenandoah Telecommunications Company (NASDAQ:SHEN) opened at 28.25 on Wednesday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 122.29 and a beta of 1.01. Shenandoah Telecommunications Company has a one year low of $22.05 and a one year high of $42.66. The firm’s 50-day moving average price is $27.48 and its 200-day moving average price is $27.03.

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In other Shenandoah Telecommunications Company news, VP Adele M. Skolits sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $28.00, for a total value of $28,000.00. Following the completion of the sale, the vice president now directly owns 57,572 shares in the company, valued at $1,612,016. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.48% of the company’s stock.

A number of hedge funds have recently modified their holdings of SHEN. IFP Advisors Inc bought a new stake in shares of Shenandoah Telecommunications Company during the second quarter valued at approximately $109,000. Royal Bank of Canada raised its stake in shares of Shenandoah Telecommunications Company by 18.7% in the second quarter. Royal Bank of Canada now owns 25,416 shares of the company’s stock valued at $993,000 after buying an additional 3,998 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Shenandoah Telecommunications Company during the third quarter valued at approximately $539,000. Virginia Retirement Systems ET AL raised its stake in shares of Shenandoah Telecommunications Company by 25.5% in the third quarter. Virginia Retirement Systems ET AL now owns 12,800 shares of the company’s stock valued at $348,000 after buying an additional 2,600 shares during the period. Finally, DUPONT CAPITAL MANAGEMENT Corp raised its stake in shares of Shenandoah Telecommunications Company by 14.6% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 39,953 shares of the company’s stock valued at $1,087,000 after buying an additional 5,097 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

About Shenandoah Telecommunications Company

Shenandoah Telecommunications Company is a telecommunications holding company. The Company, through its subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers. Its segments include Wireless, which provides digital wireless service to a portion of over four-state area covering the region from Harrisburg, York and Altoona, Pennsylvania, to Harrisonburg, Virginia; Cable segment, which provides video, Internet and voice services in franchise areas in portions of Virginia, West Virginia and western Maryland, and leases fiber optic facilities throughout its service area; Wireline segment, which provides regulated and unregulated voice services, digital subscriber lines Internet access and long distance access services throughout Shenandoah county, and Other segment, which includes operations of the Company.

5 Day Chart for NASDAQ:SHEN

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