Could Shenandoah Telecommunications Company (SHEN) Go Down? The Stock Formed Bearish Double Bottom

July 16, 2018 - By Matthew Richard

Shenandoah Telecommunications Company (NASDAQ:SHEN) Logo

Investors sentiment decreased to 1 in Q1 2018. Its down 0.04, from 1.04 in 2017Q4. It turned negative, as 10 investors sold Shenandoah Telecommunications Company shares while 34 reduced holdings. 16 funds opened positions while 28 raised stakes. 21.80 million shares or 0.70% less from 21.95 million shares in 2017Q4 were reported.
Lpl Fincl Ltd Liability Corporation holds 0% or 9,674 shares. 103,505 were reported by Wells Fargo & Co Mn. 15,221 are held by Metropolitan Life New York. Citigroup has 8,146 shares for 0% of their portfolio. Employees Retirement Systems Of Texas holds 0.02% of its portfolio in Shenandoah Telecommunications Company (NASDAQ:SHEN) for 31,000 shares. Mawer Invest Management has invested 0.3% in Shenandoah Telecommunications Company (NASDAQ:SHEN). Bank & Trust Of Montreal Can invested in 297 shares or 0% of the stock. 29,705 are owned by Amer Gru. The Texas-based Dimensional Fund L P has invested 0.03% in Shenandoah Telecommunications Company (NASDAQ:SHEN). Tiaa Cref Invest Management Ltd Liability Com stated it has 138,262 shares. Amalgamated Bank & Trust owns 6,199 shares or 0.01% of their US portfolio. Ameriprise owns 176,368 shares for 0% of their portfolio. Sandy Spring State Bank accumulated 1,250 shares. First Tru Advisors Ltd Partnership has invested 0.01% of its portfolio in Shenandoah Telecommunications Company (NASDAQ:SHEN). Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in Shenandoah Telecommunications Company (NASDAQ:SHEN) for 2,877 shares.

Since March 19, 2018, it had 0 insider purchases, and 6 sales for $1.95 million activity. Another trade for 14,000 shares valued at $455,627 was sold by Baughman Richard A. SCHULTZ LEIGH ANN sold 70 shares worth $2,759. On Thursday, March 29 BURCH KEN L sold $36,300 worth of Shenandoah Telecommunications Company (NASDAQ:SHEN) or 1,000 shares. McKay Edward H had sold 10,000 shares worth $363,100 on Wednesday, March 28. 10,000 Shenandoah Telecommunications Company (NASDAQ:SHEN) shares with value of $367,700 were sold by OSTROSKI RAYMOND B.

The chart of Shenandoah Telecommunications Company (SHEN) shows a double bottom with $31.38 target or 3.00 % below today’s $32.35 share price. The 8 months chart pattern indicates high risk for the $1.60B company. It was reported on Jul, 16 by If the $31.38 price target is reached, the company will be worth $48.09M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.37% or $0.45 during the last trading session, reaching $32.35. About 18,321 shares traded. Shenandoah Telecommunications Company (NASDAQ:SHEN) has declined 0.82% since July 16, 2017 and is downtrending. It has underperformed by 13.39% the S&P500.

Analysts await Shenandoah Telecommunications Company (NASDAQ:SHEN) to report earnings on August, 1. SHEN’s profit will be $4.96 million for 80.88 P/E if the $0.10 EPS becomes a reality. After $0.10 actual earnings per share reported by Shenandoah Telecommunications Company for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Shenandoah Telecommunications Company (NASDAQ:SHEN) Ratings Coverage

Among 2 analysts covering Shenandoah Telecommunications Co (NASDAQ:SHEN), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Shenandoah Telecommunications Co had 2 analyst reports since January 24, 2018 according to SRatingsIntel. The firm has “Hold” rating by Raymond James given on Friday, May 4.

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to end-user clients and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio. The company has market cap of $1.60 billion. It offers a suite of voice, video, and data communications services. It has a 24.32 P/E ratio. The firm operates in three divisions: Wireless, Cable, and Wireline.

Shenandoah Telecommunications Company (NASDAQ:SHEN) Institutional Positions Chart

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