Shenandoah Telecommunications (NASDAQ:SHEN) Shares Up 5.2% – What’s Next?

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) were up 5.2% during mid-day trading on Friday . The stock traded as high as $13.38 and last traded at $13.24. Approximately 16,479 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 196,815 shares. The stock had previously closed at $12.59.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SHEN shares. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Price Performance

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 business has a 50-day moving average price of $14.02 and a 200 day moving average price of $15.89. The stock has a market cap of $722.36 million, a PE ratio of 3.40 and a beta of 0.67.

Shenandoah Telecommunications Increases Dividend

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

Institutional Trading of Shenandoah Telecommunications

Several institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of Shenandoah Telecommunications in the 3rd quarter worth about $37,000. GAMMA Investing LLC increased its stake in Shenandoah Telecommunications by 85.1% in the second quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 2,115 shares during the period. Quantbot Technologies LP grew its stake in Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 6,244 shares during the last quarter. Quest Partners LLC grew its stake in Shenandoah Telecommunications by 741.0% in the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 6,728 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Shenandoah Telecommunications during the first quarter worth about $109,000. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

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.