Todays Report: The Strs Ohio Reduces stake in Shenandoah Telecommunications Co. (SHEN)

The Strs Ohio Reduces stake in Shenandoah Telecommunications Co. (SHEN)

Strs Ohio reduced its position in shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) by 13.3% during the second quarter, Holdings Channel reports. The fund owned 30,700 shares of the company’s stock after selling 4,700 shares during the period. Strs Ohio’s holdings in Shenandoah Telecommunications were worth $1,199,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Shenandoah Telecommunications by 479.8% in the first quarter. BlackRock Inc. now owns 3,798 shares of the company’s stock worth $102,000 after buying an additional 3,143 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its position in shares of Shenandoah Telecommunications by 93.9% in the first quarter. C M Bidwell & Associates Ltd. now owns 5,420 shares of the company’s stock worth $145,000 after buying an additional 2,625 shares during the last quarter. Campbell Newman Asset Management Inc. acquired a new position in shares of Shenandoah Telecommunications during the second quarter worth approximately $215,000. Zebra Capital Management LLC acquired a new position in shares of Shenandoah Telecommunications during the first quarter worth approximately $206,000. Finally, Menta Capital LLC acquired a new position in shares of Shenandoah Telecommunications during the first quarter worth approximately $256,000. 42.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) traded down 0.50% during midday trading on Wednesday, hitting $25.89. 147,897 shares of the company’s stock traded hands. The stock has a market cap of $1.27 billion, a P/E ratio of 47.16 and a beta of 1.11. Shenandoah Telecommunications Co. has a 52 week low of $19.18 and a 52 week high of $42.66. The company has a 50 day moving average of $26.25 and a 200 day moving average of $31.11.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Friday, August 5th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.39. Shenandoah Telecommunications had a net margin of 6.83% and a return on equity of 16.83%. The business had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $93.96 million. On average, equities analysts forecast that Shenandoah Telecommunications Co. will post $0.38 EPS for the current fiscal year.

SHEN has been the topic of several recent research reports. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Raymond James Financial Inc. raised shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research note on Tuesday, August 16th. FBR & Co cut shares of Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $31.00 to $35.00 in a research note on Monday, August 8th. Finally, TheStreet cut shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.20.

About Shenandoah Telecommunications

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.

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