Shenandoah Telecommunications (NASDAQ:SHEN) Trading Down 10.1% – What’s Next?

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) dropped 10.1% on Thursday . The stock traded as low as $13.45 and last traded at $14.01. Approximately 40,609 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 192,417 shares. The stock had previously closed at $15.58.

Analyst Upgrades and Downgrades

SHEN has been the topic of several recent analyst reports. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, August 8th.

Shenandoah Telecommunications Price Performance

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 company has a market cap of $661.39 million, a P/E ratio of 3.39 and a beta of 0.67. The firm’s fifty day moving average is $14.47 and its two-hundred day moving average is $15.96.

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

Shenandoah Telecommunications Increases Dividend

The company also recently announced an annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 0.66%. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. Shenandoah Telecommunications’s dividend payout ratio is currently 2.22%.

Insiders Place Their Bets

In related news, COO Edward H. Mckay bought 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $14.15 per share, with a total value of $28,300.00. Following the completion of the purchase, the chief operating officer now owns 68,951 shares of the company’s stock, valued at $975,656.65. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Christopher E. French bought 6,500 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $14.94 per share, with a total value of $97,110.00. Following the transaction, the chief executive officer now owns 346,394 shares in the company, valued at approximately $5,175,126.36. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edward H. Mckay purchased 2,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $14.15 per share, with a total value of $28,300.00. Following the transaction, 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 disclosure for this purchase can be found here. Insiders bought a total of 14,700 shares of company stock valued at $212,745 over the last 90 days. Insiders own 4.37% of the company’s stock.

Institutional Trading of Shenandoah Telecommunications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Shenandoah Telecommunications by 74.9% in the 1st quarter. BNP Paribas Financial Markets now owns 24,195 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 10,358 shares during the period. SG Americas Securities LLC purchased a new stake in Shenandoah Telecommunications in the 1st quarter valued at $109,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $211,000. Inspire Investing LLC increased its position in Shenandoah Telecommunications by 14.9% during the first quarter. Inspire Investing LLC now owns 20,443 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 2,652 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Shenandoah Telecommunications by 31.0% during the first quarter. Avantax Advisory Services Inc. now owns 15,900 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 3,760 shares during the period. Institutional investors and hedge funds own 61.96% of the company’s stock.

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.