Jane Street Group LLC Grows Stake in Shenandoah Telecommunications (NASDAQ:SHEN)

Jane Street Group LLC increased its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 101.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 95,703 shares of the utilities provider’s stock after acquiring an additional 48,127 shares during the quarter. Jane Street Group LLC’s holdings in Shenandoah Telecommunications were worth $1,350,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Shenandoah Telecommunications by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock worth $7,621,000 after acquiring an additional 13,776 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Shenandoah Telecommunications by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock worth $42,070,000 after purchasing an additional 29,413 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Shenandoah Telecommunications by 99.9% in the second 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 raised its stake in Shenandoah Telecommunications by 5.6% in the second quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 1,138 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in Shenandoah Telecommunications by 11.5% in the second quarter. Gabelli Funds LLC now owns 140,500 shares of the utilities provider’s stock valued at $2,294,000 after purchasing an additional 14,500 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Trading Down 4.4 %

NASDAQ SHEN opened at $12.44 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $13.48 and its two-hundred day simple moving average is $15.11. Shenandoah Telecommunications has a twelve month low of $11.87 and a twelve month high of $22.27. The company has a market capitalization of $679.25 million, a price-to-earnings ratio of 3.20 and a beta of 0.63.

Shenandoah Telecommunications Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were issued a dividend of $0.10 per share. This represents a dividend yield of 0.66%. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. 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.