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

Shenandoah Telecommunications (NASDAQ:SHEN) COO Edward H. Mckay acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $12.67 per share, for a total transaction of $12,670.00. Following the transaction, the chief operating officer now directly owns 75,369 shares of the company’s stock, valued at approximately $954,925.23. This trade represents a 1.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shenandoah Telecommunications Stock Down 1.3 %

Shares of NASDAQ SHEN opened at $12.93 on Friday. The firm has a fifty day simple moving average of $14.20 and a two-hundred day simple moving average of $15.90. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $24.22. 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 firm 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 business also recently declared an annual dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a $0.10 dividend. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is presently 2.57%.

Wall Street Analyst Weigh In

SHEN has been the topic of a number of research analyst reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a report 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.

Institutional Trading of Shenandoah Telecommunications

Several large investors have recently bought and sold shares of the company. Inspire Investing LLC raised its position in shares of Shenandoah Telecommunications by 5.6% in the 2nd quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 1,138 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Shenandoah Telecommunications by 1.7% in the first quarter. Gamco Investors INC. ET AL now owns 105,726 shares of the utilities provider’s stock worth $1,836,000 after purchasing an additional 1,726 shares in the last quarter. GAMMA Investing LLC lifted its position in Shenandoah Telecommunications by 85.1% during the second quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock valued at $75,000 after buying an additional 2,115 shares during the period. CWM LLC boosted its holdings in shares of Shenandoah Telecommunications by 3.0% during the 2nd quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock valued at $1,182,000 after buying an additional 2,121 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Shenandoah Telecommunications by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider’s stock worth $437,000 after buying an additional 2,155 shares during the period. 61.96% of the stock is owned by institutional investors.

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.