Jane Street Group LLC Grows Stock Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Jane Street Group LLC grew its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 101.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,703 shares of the utilities provider’s stock after buying an additional 48,127 shares during the period. Jane Street Group LLC owned 0.18% of Shenandoah Telecommunications worth $1,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Shenandoah Telecommunications by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock valued at $7,621,000 after acquiring an additional 13,776 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Shenandoah Telecommunications by 1.2% in the second 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. Mercer Global Advisors Inc. ADV raised its position in shares of Shenandoah Telecommunications by 99.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock valued at $1,654,000 after purchasing an additional 50,630 shares during the period. Inspire Investing LLC lifted its stake in shares of Shenandoah Telecommunications by 5.6% during the 2nd quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock valued at $352,000 after buying an additional 1,138 shares in the last quarter. Finally, Gabelli Funds LLC boosted its holdings in 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 buying an additional 14,500 shares during the period. Institutional investors own 61.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Wednesday, November 13th.

Shenandoah Telecommunications Stock Performance

Shares of SHEN opened at $12.44 on Friday. Shenandoah Telecommunications has a 52-week low of $11.87 and a 52-week high of $22.27. The stock’s 50-day simple moving average is $13.48 and its 200 day simple moving average is $15.11. 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 stock has a market capitalization of $679.25 million, a price-to-earnings ratio of 3.20 and a beta of 0.63.

Shenandoah Telecommunications Increases Dividend

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

Shenandoah Telecommunications 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.