Barclays PLC Raises Stock Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Barclays PLC grew its stake in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 339.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,151 shares of the utilities provider's stock after buying an additional 61,910 shares during the period. Barclays PLC owned 0.15% of Shenandoah Telecommunications worth $1,131,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Shenandoah Telecommunications in the third quarter valued at $37,000. Quantbot Technologies LP grew its stake in Shenandoah Telecommunications by 570.2% during the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider's stock worth $104,000 after buying an additional 6,244 shares during the last quarter. Quest Partners LLC increased its position in Shenandoah Telecommunications by 741.0% during the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider's stock worth $108,000 after buying an additional 6,728 shares during the period. Magnetar Financial LLC purchased a new stake in Shenandoah Telecommunications in the second quarter valued at approximately $257,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Shenandoah Telecommunications in the third quarter valued at approximately $271,000. 61.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Wednesday, November 13th.

Shenandoah Telecommunications Stock Performance

Shares of Shenandoah Telecommunications stock traded down $0.02 on Monday, reaching $12.42. 243,561 shares of the stock were exchanged, compared to its average volume of 203,335. The firm has a market capitalization of $678.16 million, a PE ratio of 3.19 and a beta of 0.63. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $22.27. The business has a fifty day moving average price of $13.46 and a two-hundred day moving average price of $15.06. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36.

Shenandoah Telecommunications Increases Dividend

The firm 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 is a boost from Shenandoah Telecommunications's previous annual dividend of $0.09. This represents a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, November 5th. Shenandoah Telecommunications's dividend payout ratio (DPR) is currently 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.