Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by Creative Planning

Creative Planning decreased its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 3.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 67,393 shares of the utilities provider’s stock after selling 2,473 shares during the period. Creative Planning’s holdings in Shenandoah Telecommunications were worth $951,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 2,115 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Shenandoah Telecommunications during the 1st quarter worth about $109,000. Aristides Capital LLC bought a new position in shares of Shenandoah Telecommunications during the 1st quarter worth about $181,000. Susquehanna Fundamental Investments LLC bought a new stake in Shenandoah Telecommunications in the first quarter valued at about $211,000. Finally, Magnetar Financial LLC bought a new stake in Shenandoah Telecommunications in the second quarter valued at about $257,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Trading Up 3.3 %

SHEN opened at $14.29 on Friday. Shenandoah Telecommunications has a fifty-two week low of $11.87 and a fifty-two week high of $25.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $779.81 million, a price-to-earnings ratio of 3.53 and a beta of 0.67. The firm has a 50 day simple moving average of $14.51 and a 200 day simple moving average of $15.94.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). Shenandoah Telecommunications had a net margin of 68.81% and a negative return on equity of 0.48%. The firm had revenue of $85.80 million during the quarter, compared to the consensus estimate of $86.12 million. On average, sell-side analysts anticipate that Shenandoah Telecommunications will post -0.26 earnings per share for the current year.

Shenandoah Telecommunications Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be issued a dividend of $0.10 per share. This is a boost 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 dividend payout ratio is presently 2.22%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHEN. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, August 8th.

Insider Buying and Selling

In other news, CEO Christopher E. French purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $14.02 per share, for a total transaction of $70,100.00. Following the completion of the purchase, the chief executive officer now directly owns 86,485 shares in the company, valued at $1,212,519.70. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Edward H. Mckay purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the purchase, the chief operating officer now directly owns 68,951 shares in the company, valued at $975,656.65. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. French purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $14.02 per share, with a total value of $70,100.00. Following the purchase, the chief executive officer now owns 86,485 shares of the company’s stock, valued at approximately $1,212,519.70. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 14,700 shares of company stock worth $212,745. 4.37% of the stock is owned by insiders.

Shenandoah Telecommunications 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.