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

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

Shenandoah Telecommunications Trading Down 3.0 %

Shares of NASDAQ SHEN traded down $0.39 during trading on Friday, hitting $12.71. 31,267 shares of the company were exchanged, compared to its average volume of 196,799. The company has a fifty day moving average price of $14.25 and a 200-day moving average price of $15.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $693.97 million, a PE ratio of 3.37 and a beta of 0.67. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $24.22.

Shenandoah Telecommunications Increases Dividend

The company 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 $0.10 dividend. 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 of this dividend is Tuesday, November 5th. Shenandoah Telecommunications’s payout ratio is presently 2.57%.

Analyst Ratings Changes

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

Institutional Trading of Shenandoah Telecommunications

Several hedge funds have recently made changes to their positions in SHEN. nVerses Capital LLC purchased a new position in Shenandoah Telecommunications in the third quarter worth approximately $37,000. GAMMA Investing LLC lifted its position in 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 last quarter. Quantbot Technologies LP boosted its stake in 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 buying an additional 6,244 shares during the period. Quest Partners LLC raised its stake in shares of Shenandoah Telecommunications by 741.0% in the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 6,728 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Shenandoah Telecommunications during the 1st quarter worth approximately $109,000. Hedge funds and other 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.