Shenandoah Telecommunications (NASDAQ:SHEN) Trading Up 5.2% – Time to Buy?

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

Wall Street Analysts Forecast Growth

SHEN has been the topic of a number of recent research reports. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th.

Shenandoah Telecommunications Trading Up 5.1 %

The stock has a market cap of $722.36 million, a PE ratio of 3.40 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 business has a 50 day moving average of $14.02 and a 200-day moving average of $15.89.

Shenandoah Telecommunications Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given 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 presently 2.57%.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently made changes to their positions in SHEN. GCM Grosvenor Holdings LLC bought a new position in shares of Shenandoah Telecommunications in the second quarter valued at $66,959,000. Intech Investment Management LLC acquired a new position in shares of Shenandoah Telecommunications during the third quarter valued at about $1,113,000. FMR LLC raised its position in Shenandoah Telecommunications by 211.9% in the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock worth $1,493,000 after purchasing an additional 71,868 shares in the last quarter. Barclays PLC grew its stake in Shenandoah Telecommunications by 339.4% during the third quarter. Barclays PLC now owns 80,151 shares of the utilities provider’s stock worth $1,131,000 after buying an additional 61,910 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Shenandoah Telecommunications by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after purchasing an additional 51,697 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

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.