Shenandoah Telecommunications (NASDAQ:SHEN) Trading Down 3.6% – Time to Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares dropped 3.6% on Wednesday . The company traded as low as $14.88 and last traded at $14.9760. Approximately 23,442 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 296,565 shares. The stock had previously closed at $15.54.

Wall Street Analyst Weigh In

SHEN has been the topic of a number of recent analyst reports. Weiss Ratings cut Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Wall Street Zen lowered Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Monday, May 4th. Finally, Craig Hallum initiated coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They issued a “buy” rating and a $29.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Trading Down 4.6%

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50-day moving average is $15.94 and its two-hundred day moving average is $13.80. The stock has a market cap of $819.84 million, a P/E ratio of -18.52 and a beta of 0.66.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 4.64% and a negative net margin of 11.35%.The company had revenue of $92.15 million for the quarter, compared to the consensus estimate of $91.34 million. Equities research analysts anticipate that Shenandoah Telecommunications Co will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently bought and sold shares of SHEN. Millennium Management LLC raised its stake in Shenandoah Telecommunications by 1,116.6% during the fourth quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock valued at $12,569,000 after purchasing an additional 997,882 shares in the last quarter. Cooper Investors PTY Ltd. raised its stake in Shenandoah Telecommunications by 81.0% during the fourth quarter. Cooper Investors PTY Ltd. now owns 950,951 shares of the utilities provider’s stock valued at $10,993,000 after purchasing an additional 425,582 shares in the last quarter. Invesco Ltd. raised its stake in Shenandoah Telecommunications by 103.7% during the second quarter. Invesco Ltd. now owns 447,553 shares of the utilities provider’s stock valued at $6,114,000 after purchasing an additional 227,789 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in Shenandoah Telecommunications by 187.2% during the third quarter. Bridgeway Capital Management LLC now owns 330,890 shares of the utilities provider’s stock valued at $4,441,000 after purchasing an additional 215,668 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Shenandoah Telecommunications by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after purchasing an additional 116,040 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.