Shenandoah Telecommunications (NASDAQ:SHEN) Holdings Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 11.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,160 shares of the utilities provider’s stock after selling 3,304 shares during the quarter. State of Alaska Department of Revenue’s holdings in Shenandoah Telecommunications were worth $369,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SHEN. BNP Paribas Financial Markets lifted its stake in Shenandoah Telecommunications by 74.9% in the first quarter. BNP Paribas Financial Markets now owns 24,195 shares of the utilities provider’s stock valued at $420,000 after buying an additional 10,358 shares during the last quarter. SG Americas Securities LLC acquired a new position in Shenandoah Telecommunications during the 1st quarter valued at about $109,000. Susquehanna Fundamental Investments LLC bought a new position in Shenandoah Telecommunications in the 1st quarter worth about $211,000. Inspire Investing LLC increased its stake in shares of Shenandoah Telecommunications by 14.9% in the first quarter. Inspire Investing LLC now owns 20,443 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 2,652 shares during the period. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Shenandoah Telecommunications by 31.0% during the first quarter. Avantax Advisory Services Inc. now owns 15,900 shares of the utilities provider’s stock valued at $276,000 after buying an additional 3,760 shares during the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

Wall Street Analyst Weigh In

SHEN has been the topic of several analyst reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th. BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, August 8th.

Insider Buying and Selling

In other news, COO Edward H. Mckay acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the acquisition, the chief operating officer now owns 68,951 shares of the company’s stock, valued at approximately $975,656.65. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Edward H. Mckay bought 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $14.15 per share, for a total transaction of $28,300.00. Following the purchase, the chief operating officer now owns 68,951 shares of the company’s stock, valued at $975,656.65. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. French acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was acquired 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 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 bought 8,200 shares of company stock worth $115,635. Corporate insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $13.03 on Friday. The company has a market capitalization of $711.07 million, a PE ratio of 3.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average of $14.38 and a 200-day moving average of $15.93. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $24.32.

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

Shenandoah Telecommunications Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 5th. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a dividend yield of 0.66%. Shenandoah Telecommunications’s dividend payout ratio is 2.57%.

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.