Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay Purchases 1,000 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay bought 1,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $12.67 per share, with a total value of $12,670.00. Following the acquisition, the chief operating officer now directly owns 75,369 shares of the company’s stock, valued at approximately $954,925.23. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shenandoah Telecommunications Trading Up 3.5 %

Shares of SHEN stock traded up $0.44 during mid-day trading on Thursday, reaching $13.06. 109,543 shares of the stock traded hands, compared to its average volume of 196,802. The stock’s fifty day simple moving average is $14.25 and its two-hundred day simple moving average is $15.92. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $24.32. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $713.08 million, a price-to-earnings ratio of 3.26 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 issued a dividend of $0.10 per share. This represents a yield of 0.66%. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.09. The ex-dividend date is Tuesday, November 5th. Shenandoah Telecommunications’s payout ratio is presently 2.57%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in Shenandoah Telecommunications in the third quarter valued at $37,000. GAMMA Investing LLC increased its stake in shares of Shenandoah Telecommunications by 85.1% in the second quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock valued at $75,000 after buying an additional 2,115 shares during the period. Quantbot Technologies LP raised its position in shares of Shenandoah Telecommunications by 570.2% during the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 6,244 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Shenandoah Telecommunications by 741.0% in the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 6,728 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Shenandoah Telecommunications in the first quarter worth approximately $109,000. Institutional investors own 61.96% of the company’s stock.

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.