Shenandoah Telecommunications (NASDAQ:SHEN) COO Acquires $12,670.00 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay acquired 1,000 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $12.67 per share, for a total transaction of $12,670.00. Following the completion of the purchase, the chief operating officer now owns 75,369 shares of the company’s stock, valued at approximately $954,925.23. This represents a 1.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ SHEN opened at $12.93 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36. The stock has a market cap of $705.98 million, a P/E ratio of 3.32 and a beta of 0.67. The stock has a 50 day moving average of $14.16 and a two-hundred day moving average of $15.90. Shenandoah Telecommunications has a twelve month low of $11.87 and a twelve month high of $24.22.

Shenandoah Telecommunications Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 0.66%. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.09. Shenandoah Telecommunications’s payout ratio is presently 2.57%.

Hedge Funds Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Investing LLC increased its stake in shares of Shenandoah Telecommunications by 5.6% during the second quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 1,138 shares during the period. Gamco Investors INC. ET AL increased its position in Shenandoah Telecommunications by 1.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 105,726 shares of the utilities provider’s stock worth $1,836,000 after purchasing an additional 1,726 shares during the period. GAMMA Investing LLC raised its stake in shares of Shenandoah Telecommunications by 85.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock worth $75,000 after buying an additional 2,115 shares in the last quarter. CWM LLC lifted its holdings in shares of Shenandoah Telecommunications by 3.0% in the 2nd quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock valued at $1,182,000 after buying an additional 2,121 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Shenandoah Telecommunications by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider’s stock valued at $437,000 after buying an additional 2,155 shares in the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHEN has been the subject of several recent analyst reports. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th. BWS Financial reaffirmed a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Wednesday.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.