Shenandoah Telecommunications (NASDAQ:SHEN) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc raised its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 10,890.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,418 shares of the utilities provider’s stock after purchasing an additional 2,396 shares during the period. Versant Capital Management Inc’s holdings in Shenandoah Telecommunications were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Shenandoah Telecommunications in the 3rd quarter valued at $37,000. Quantbot Technologies LP raised its holdings 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 valued at $104,000 after buying an additional 6,244 shares during the last quarter. Quest Partners LLC boosted its stake in shares of 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 position in shares of Shenandoah Telecommunications during the second quarter worth about $257,000. Finally, SG Americas Securities LLC acquired a new position in Shenandoah Telecommunications in the 3rd quarter valued at about $271,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued 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 Up 0.4 %

Shares of Shenandoah Telecommunications stock opened at $12.61 on Wednesday. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $22.27. The company has a market cap of $688.53 million, a P/E ratio of 3.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a fifty day moving average of $13.24 and a two-hundred day moving average of $14.94.

Shenandoah Telecommunications Increases Dividend

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

Shenandoah Telecommunications Profile

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.