GAMMA Investing LLC Purchases 5,013 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

GAMMA Investing LLC increased its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 135.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,722 shares of the utilities provider’s stock after purchasing an additional 5,013 shares during the period. GAMMA Investing LLC’s holdings in Shenandoah Telecommunications were worth $110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Shenandoah Telecommunications by 10,890.9% in the 4th quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 2,396 shares in the last quarter. nVerses Capital LLC bought a new position in Shenandoah Telecommunications in the 3rd quarter valued at approximately $37,000. Quantbot Technologies LP lifted its position in Shenandoah Telecommunications by 570.2% in the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 6,244 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Shenandoah Telecommunications by 741.0% during the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock valued at $108,000 after buying an additional 6,728 shares during the period. Finally, Magnetar Financial LLC bought a new position in shares of Shenandoah Telecommunications during the 2nd quarter valued at $257,000. Institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

Shenandoah Telecommunications Price Performance

NASDAQ SHEN opened at $11.98 on Friday. The business’s fifty day moving average price is $13.08 and its 200-day moving average price is $14.85. The stock has a market capitalization of $654.13 million, a price-to-earnings ratio of 3.08 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $22.27.

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 dividend of $0.10 per share. This represents a dividend yield of 0.66%. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is presently 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.