Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 11.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,200 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Shenandoah Telecommunications were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SHEN. nVerses Capital LLC acquired a new position in shares of Shenandoah Telecommunications during the third quarter valued at about $37,000. GAMMA Investing LLC grew its position in 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 purchasing an additional 2,115 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Shenandoah Telecommunications during the 1st quarter worth approximately $109,000. Aristides Capital LLC acquired a new position in Shenandoah Telecommunications during the 1st quarter valued at approximately $181,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Shenandoah Telecommunications in the first quarter worth $211,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reiterated 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 at Shenandoah Telecommunications

In related news, CEO Christopher E. French bought 6,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $14.94 per share, for a total transaction of $97,110.00. Following the completion of the transaction, the chief executive officer now directly owns 346,394 shares in the company, valued at $5,175,126.36. 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 link. In related news, CEO Christopher E. French purchased 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $14.94 per share, with a total value of $97,110.00. Following the completion of the acquisition, the chief executive officer now owns 346,394 shares in the company, valued at $5,175,126.36. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $14.02 per share, with a total value of $70,100.00. Following the acquisition, the chief executive officer now directly owns 86,485 shares of the company’s stock, valued at $1,212,519.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 14,700 shares of company stock valued at $212,745. 4.37% of the stock is owned by company insiders.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $15.58 on Thursday. Shenandoah Telecommunications has a twelve month low of $11.87 and a twelve month high of $24.54. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a market cap of $850.20 million, a PE ratio of 3.85 and a beta of 0.67. The company’s 50 day moving average is $14.47 and its 200 day moving average is $15.96.

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

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 given a dividend of $0.10 per share. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a yield of 0.66%. The ex-dividend date is Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio (DPR) is currently 2.22%.

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.