Shenandoah Telecommunications (NASDAQ:SHEN) Holdings Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,436 shares of the utilities provider’s stock after selling 1,200 shares during the quarter. New York State Teachers Retirement System owned 0.12% of Shenandoah Telecommunications worth $952,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Inspire Investing LLC lifted 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 valued at $352,000 after acquiring an additional 1,138 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Shenandoah Telecommunications by 1.7% during the first quarter. Gamco Investors INC. ET AL now owns 105,726 shares of the utilities provider’s stock valued at $1,836,000 after buying an additional 1,726 shares in the last quarter. GAMMA Investing LLC raised 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 lifted its stake in Shenandoah Telecommunications by 3.0% in the 2nd quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock worth $1,182,000 after acquiring an additional 2,121 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Shenandoah Telecommunications by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider’s stock worth $437,000 after acquiring an additional 2,155 shares during the period. Institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

SHEN has been the subject of several research reports. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, August 8th. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th.

Shenandoah Telecommunications Trading Up 1.1 %

Shares of NASDAQ:SHEN opened at $13.03 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day moving average is $14.38 and its 200-day moving average is $15.94. The company has a market cap of $711.07 million, a P/E ratio of 3.35 and a beta of 0.67. Shenandoah Telecommunications has a 52-week low of $11.87 and a 52-week high of $24.32.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. The business had revenue of $85.80 million during the quarter, compared to the consensus estimate of $86.12 million. Equities research analysts predict that Shenandoah Telecommunications will post -0.26 earnings per share for the current year.

Shenandoah Telecommunications Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 5th. This represents a yield of 0.66%. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.09. Shenandoah Telecommunications’s payout ratio is 2.57%.

Insider Activity at Shenandoah Telecommunications

In related news, COO Edward H. Mckay acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the acquisition, the chief operating officer now owns 68,951 shares in the company, valued at $975,656.65. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Edward H. Mckay acquired 2,000 shares of Shenandoah Telecommunications stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the transaction, the chief operating officer now owns 68,951 shares of the company’s stock, valued at $975,656.65. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher E. French acquired 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $14.02 per share, for a total transaction of $70,100.00. Following the completion of the transaction, the chief executive officer now owns 86,485 shares of the company’s stock, valued at $1,212,519.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 8,200 shares of company stock worth $115,635 in the last ninety days. 4.37% of the stock is currently owned by insiders.

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.