Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Down 10.1% - Time to Sell?

Shares of Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) were down 10.1% during trading on Thursday . The stock traded as low as $13.45 and last traded at $14.01. Approximately 40,609 shares traded hands during 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

A number of research analysts have issued reports on the stock. BWS Financial restated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday, August 8th. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a report on Tuesday, July 30th.

Shenandoah Telecommunications Price Performance

The firm has a market cap of $661.39 million, a price-to-earnings ratio of 3.39 and a beta of 0.67. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The business's 50-day simple moving average is $14.47 and its two-hundred day simple moving average is $15.96.

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

Shenandoah Telecommunications Increases Dividend

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

Insider Activity

In related news, CEO Christopher E. French acquired 6,500 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $14.94 per share, with a total value of $97,110.00. Following the acquisition, the chief executive officer now owns 346,394 shares of the company's stock, valued at approximately $5,175,126.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Christopher E. French purchased 6,500 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $14.94 per share, with a total value of $97,110.00. Following the acquisition, the chief executive officer now directly owns 346,394 shares of the company's stock, valued at approximately $5,175,126.36. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. French acquired 5,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $14.02 per share, with a total value of $70,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,485 shares in the company, valued at $1,212,519.70. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 14,700 shares of company stock valued at $212,745 in the last three months. Company insiders own 4.37% of the company's stock.

Institutional Trading of Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in Shenandoah Telecommunications during the 3rd quarter valued at $37,000. GAMMA Investing LLC boosted its holdings in shares of Shenandoah Telecommunications by 85.1% during the second quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider's stock worth $75,000 after purchasing an additional 2,115 shares during the period. SG Americas Securities LLC bought a new stake in shares of Shenandoah Telecommunications in the first quarter worth about $109,000. Aristides Capital LLC bought a new position in Shenandoah Telecommunications during the 1st quarter valued at approximately $181,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Shenandoah Telecommunications during the 1st quarter valued at approximately $211,000. Institutional investors 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.

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