Shenandoah Telecommunications (NASDAQ:SHEN) Trading 5.2% Higher – Here’s Why

Shenandoah Telecommunications (NASDAQ:SHEN) shot up 5.2% on Friday . The stock traded as high as $13.38 and last traded at $13.24. 16,479 shares traded hands during trading, a decline of 92% from the average session volume of 196,815 shares. The stock had previously closed at $12.59.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHEN. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th. BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Stock Performance

The firm has a market capitalization of $724.00 million, a price-to-earnings ratio of 3.41 and a beta of 0.67. 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 stock’s 50-day moving average is $13.98 and its 200-day moving average is $15.88.

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 issued a dividend of $0.10 per share. The ex-dividend date of this dividend 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%.

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of Shenandoah Telecommunications during the third quarter worth about $37,000. GAMMA Investing LLC boosted 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 buying an additional 2,115 shares during the period. SG Americas Securities LLC acquired a new position in Shenandoah Telecommunications in the 1st quarter valued at approximately $109,000. Quantbot Technologies LP raised its stake in shares of Shenandoah Telecommunications by 570.2% during 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. Finally, Quest Partners LLC raised its stake in shares of 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 acquiring an additional 6,728 shares during the last quarter. 61.96% of the stock is currently owned by institutional investors.

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.