Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 12-Month Low – Here’s Why

Shenandoah Telecommunications (NASDAQ:SHEN) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.57 and last traded at $11.85, with a volume of 12417 shares trading hands. The stock had previously closed at $11.98.

Wall Street Analyst Weigh In

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

Shenandoah Telecommunications Price Performance

The firm has a market capitalization of $646.49 million, a P/E ratio of 3.04 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The business has a 50 day simple moving average of $13.08 and a two-hundred day simple moving average of $14.84.

Shenandoah Telecommunications Increases Dividend

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors have recently added to or reduced their stakes in the business. GCM Grosvenor Holdings LLC purchased a new position in shares of Shenandoah Telecommunications in the 2nd quarter worth about $66,959,000. Dimensional Fund Advisors LP boosted its holdings in shares of Shenandoah Telecommunications by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock worth $42,070,000 after purchasing an additional 29,413 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Shenandoah Telecommunications by 11.5% in the 2nd quarter. Gabelli Funds LLC now owns 140,500 shares of the utilities provider’s stock worth $2,294,000 after purchasing an additional 14,500 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Shenandoah Telecommunications by 5.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 110,379 shares of the utilities provider’s stock worth $1,802,000 after purchasing an additional 6,072 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of 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 in the last quarter. 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.