Versant Capital Management Inc Boosts Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Versant Capital Management Inc increased its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 10,890.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,418 shares of the utilities provider’s stock after buying an additional 2,396 shares during the period. Versant Capital Management Inc’s holdings in Shenandoah Telecommunications were worth $30,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of Shenandoah Telecommunications by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock worth $7,621,000 after acquiring an additional 13,776 shares during the period. Dimensional Fund Advisors LP raised its position in 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 valued at $42,070,000 after purchasing an additional 29,413 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Shenandoah Telecommunications by 99.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock valued at $1,654,000 after buying an additional 50,630 shares during the period. Inspire Investing LLC boosted its stake 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 buying an additional 1,138 shares during the period. Finally, Gabelli Funds LLC grew its position in shares of Shenandoah Telecommunications by 11.5% during the second 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 in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN opened at $12.61 on Wednesday. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $22.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $688.53 million, a PE ratio of 3.24 and a beta of 0.63. The business’s fifty day moving average price is $13.24 and its 200 day moving average price is $14.94.

Shenandoah Telecommunications Increases Dividend

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

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.