Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 1-Year Low – Here’s What Happened

Shenandoah Telecommunications (NASDAQ:SHEN) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.57 and last traded at $11.85, with a volume of 12417 shares changing hands. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th.

Shenandoah Telecommunications Price Performance

The stock has a 50 day moving average price of $12.98 and a two-hundred day moving average price of $14.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $635.02 million, a price-to-earnings ratio of 2.99 and a beta of 0.63.

Shenandoah Telecommunications Increases Dividend

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

Institutional Trading of Shenandoah Telecommunications

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Shenandoah Telecommunications by 135.2% in the fourth quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 5,013 shares in the last quarter. Versant Capital Management Inc boosted its position in Shenandoah Telecommunications by 10,890.9% in the 4th quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock valued at $30,000 after buying an additional 2,396 shares during the period. Barclays PLC grew its stake in shares of Shenandoah Telecommunications by 339.4% in the third quarter. Barclays PLC now owns 80,151 shares of the utilities provider’s stock worth $1,131,000 after acquiring an additional 61,910 shares in the last quarter. Jane Street Group LLC increased its position in shares of Shenandoah Telecommunications by 101.2% during the third quarter. Jane Street Group LLC now owns 95,703 shares of the utilities provider’s stock worth $1,350,000 after acquiring an additional 48,127 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Shenandoah Telecommunications during the third quarter worth $336,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

About Shenandoah Telecommunications

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.