PDT Partners LLC Decreases Stock Position in Shenandoah Telecommunications (NASDAQ:SHEN)

PDT Partners LLC lowered its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 59.9% during the 3rd quarter, Holdings Channel reports. The firm owned 12,720 shares of the utilities provider’s stock after selling 19,040 shares during the quarter. PDT Partners LLC’s holdings in Shenandoah Telecommunications were worth $179,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Shenandoah Telecommunications during the 3rd quarter valued at about $37,000. GAMMA Investing LLC grew its stake in Shenandoah Telecommunications by 85.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock worth $75,000 after acquiring an additional 2,115 shares in the last quarter. Quantbot Technologies LP grew its stake in Shenandoah Telecommunications by 570.2% in the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 6,244 shares in the last quarter. Quest Partners LLC boosted 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 purchasing an additional 6,728 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of Shenandoah Telecommunications during the second quarter valued at approximately $257,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Trading Up 3.0 %

NASDAQ:SHEN opened at $13.91 on Thursday. The firm has a 50 day moving average of $13.62 and a 200 day moving average of $15.67. The stock has a market capitalization of $759.49 million, a price-to-earnings ratio of 3.58 and a beta of 0.63. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $22.64. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

Shenandoah Telecommunications Increases Dividend

The business also recently declared an annual dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were issued a $0.10 dividend. The ex-dividend date was Tuesday, November 5th. This represents a dividend yield of 0.66%. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. Shenandoah Telecommunications’s dividend payout ratio (DPR) is currently 2.57%.

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.