Amalgamated Bank Decreases Stock Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Amalgamated Bank trimmed its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 7.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,667 shares of the utilities provider’s stock after selling 1,178 shares during the period. Amalgamated Bank’s holdings in Shenandoah Telecommunications were worth $193,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SHEN. Vanguard Group Inc. increased its holdings in shares of Shenandoah Telecommunications by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after acquiring an additional 51,697 shares in the last quarter. GCM Grosvenor Holdings LLC acquired a new position in shares of Shenandoah Telecommunications during the second quarter valued at about $66,959,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Shenandoah Telecommunications by 99.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock valued at $1,654,000 after acquiring an additional 50,630 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Shenandoah Telecommunications by 74.9% during the first quarter. BNP Paribas Financial Markets now owns 24,195 shares of the utilities provider’s stock valued at $420,000 after acquiring an additional 10,358 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Shenandoah Telecommunications by 34.3% during the third quarter. Inspire Investing LLC now owns 28,988 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 7,407 shares in the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $12.93 on Monday. Shenandoah Telecommunications has a twelve month low of $11.87 and a twelve month high of $24.22. The company’s 50 day moving average is $14.16 and its 200 day moving average is $15.92. 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 company has a market cap of $705.98 million, a PE ratio of 3.32 and a beta of 0.67.

Shenandoah Telecommunications Increases Dividend

The company also recently announced 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. This represents a dividend yield of 0.66%. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Tuesday, November 5th. Shenandoah Telecommunications’s payout ratio is 2.57%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Wednesday, November 13th.

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.