Jane Street Group LLC Raises Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Jane Street Group LLC increased its position in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 101.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,703 shares of the utilities provider's stock after acquiring an additional 48,127 shares during the quarter. Jane Street Group LLC owned about 0.18% of Shenandoah Telecommunications worth $1,350,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Shenandoah Telecommunications in the 3rd quarter valued at $37,000. Quantbot Technologies LP raised its position in shares of Shenandoah Telecommunications by 570.2% in the third 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 in the last quarter. Quest Partners LLC boosted its stake in Shenandoah Telecommunications by 741.0% during the third 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. Magnetar Financial LLC purchased a new position in Shenandoah Telecommunications during the second quarter worth about $257,000. Finally, SG Americas Securities LLC bought a new position in Shenandoah Telecommunications in the 3rd quarter worth about $271,000. Hedge funds and other institutional investors own 61.96% of the company's stock.

Analysts Set New Price Targets

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

Shenandoah Telecommunications Price Performance

SHEN stock traded down $0.57 during midday trading on Friday, reaching $12.44. The company had a trading volume of 167,882 shares, compared to its average volume of 203,174. The firm has a 50-day moving average price of $13.48 and a 200-day moving average price of $15.10. 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 company has a market capitalization of $679.25 million, a P/E ratio of 3.20 and a beta of 0.63. 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 announced an annual dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a $0.10 dividend. This represents a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a boost from Shenandoah Telecommunications's previous annual dividend of $0.09. Shenandoah Telecommunications's dividend payout ratio 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.