Shenandoah Telecommunications (NASDAQ:SHEN) Shares Down 4.9% – Here’s What Happened

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price fell 4.9% on Tuesday . The stock traded as low as $12.70 and last traded at $12.75. 14,942 shares changed hands during trading, a decline of 92% from the average session volume of 197,509 shares. The stock had previously closed at $13.40.

Analyst Ratings Changes

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

Shenandoah Telecommunications Trading Up 1.8 %

The company has a 50 day moving average of $13.80 and a 200 day moving average of $15.81. 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 firm has a market cap of $717.99 million, a price-to-earnings ratio of 3.38 and a beta of 0.67.

Shenandoah Telecommunications Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, December 2nd. Investors 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. The ex-dividend date is Tuesday, November 5th. This represents a yield of 0.66%. Shenandoah Telecommunications’s payout ratio is currently 2.57%.

Institutional Trading of Shenandoah Telecommunications

Institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in Shenandoah Telecommunications in the 3rd quarter valued at $37,000. GAMMA Investing LLC boosted its stake in Shenandoah Telecommunications by 85.1% in the 2nd 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 in the last quarter. Quantbot Technologies LP raised its position in Shenandoah Telecommunications by 570.2% in the 3rd 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 raised its position in 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 purchasing an additional 6,728 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in Shenandoah Telecommunications in the 2nd quarter valued at $257,000. Institutional investors and hedge funds 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.