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

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay purchased 1,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $12.67 per share, with a total value of $12,670.00. Following the completion of the purchase, the chief operating officer now directly owns 75,369 shares in the company, valued at $954,925.23. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shenandoah Telecommunications Price Performance

NASDAQ:SHEN traded up $0.44 during trading hours on Thursday, reaching $13.06. 109,543 shares of the company were exchanged, compared to its average volume of 196,802. The business has a 50 day moving average of $14.25 and a 200 day moving average of $15.92. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $24.32. 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 company has a market capitalization of $713.08 million, a P/E ratio of 3.26 and a beta of 0.67.

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 dividend of $0.10 per share. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a dividend yield of 0.66%. The ex-dividend date is Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is 2.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SHEN shares. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHEN. nVerses Capital LLC bought a new position in Shenandoah Telecommunications in the 3rd quarter valued at about $37,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 2,115 shares in the last quarter. Quantbot Technologies LP increased 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 acquiring an additional 6,244 shares during the last quarter. Quest Partners LLC raised its position in Shenandoah Telecommunications by 741.0% during 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 in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Shenandoah Telecommunications during the first quarter worth $109,000. 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.