Edward H. Mckay Acquires 1,000 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay acquired 1,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $12.67 per share, with a total value of $12,670.00. Following the transaction, the chief operating officer now owns 75,369 shares in the company, valued at $954,925.23. This represents a 1.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Shenandoah Telecommunications Stock Performance

SHEN stock opened at $12.93 on Friday. The stock’s 50 day simple moving average is $14.20 and its 200 day simple moving average is $15.90. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $24.22. The stock has a market capitalization of $705.98 million, a PE ratio of 3.32 and a beta of 0.67.

Shenandoah Telecommunications Increases Dividend

The firm 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. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a dividend yield of 0.66%. The ex-dividend date is Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is presently 2.57%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Wednesday. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several large investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in Shenandoah Telecommunications by 339.4% during the 3rd quarter. Barclays PLC now owns 80,151 shares of the utilities provider’s stock valued at $1,131,000 after acquiring an additional 61,910 shares during the period. Jane Street Group LLC lifted its position in Shenandoah Telecommunications by 101.2% during the third quarter. Jane Street Group LLC now owns 95,703 shares of the utilities provider’s stock valued at $1,350,000 after purchasing an additional 48,127 shares during the period. Paloma Partners Management Co bought a new position in Shenandoah Telecommunications during the third quarter valued at approximately $336,000. Quantbot Technologies LP boosted its holdings in Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 6,244 shares during the last quarter. Finally, FMR LLC grew its position in Shenandoah Telecommunications by 211.9% in the 3rd 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 during the period. 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.