Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Down 4.9% – Should You Sell?

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price fell 4.9% on Tuesday . The company traded as low as $12.70 and last traded at $12.75. 14,942 shares traded hands during trading, a decline of 92% from the average session volume of 197,509 shares. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SHEN. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th.

Shenandoah Telecommunications Stock Down 4.1 %

The firm’s 50-day moving average price is $13.93 and its 200-day moving average price is $15.86. The company has a market cap of $701.64 million, a price-to-earnings ratio of 3.44 and a beta of 0.67. 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 Increases Dividend

The company also recently declared an annual dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a dividend of $0.10 per share. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a yield of 0.66%. Shenandoah Telecommunications’s payout ratio is 2.57%.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Shenandoah Telecommunications by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock worth $95,328,000 after purchasing an additional 51,697 shares during the last quarter. GCM Grosvenor Holdings LLC bought a new stake in shares of Shenandoah Telecommunications in the 2nd quarter worth about $66,959,000. Mercer Global Advisors Inc. ADV increased its position in shares of Shenandoah Telecommunications by 99.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 50,630 shares during the last quarter. Inspire Investing LLC increased its position in shares of Shenandoah Telecommunications by 34.3% in the 3rd quarter. Inspire Investing LLC now owns 28,988 shares of the utilities provider’s stock worth $409,000 after purchasing an additional 7,407 shares during the last quarter. Finally, CWM LLC increased its position in shares of Shenandoah Telecommunications by 3.0% in the 2nd quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 2,121 shares during the last quarter. 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.