Cooper Investors PTY Ltd. Takes Position in Shenandoah Telecommunications Co $SHEN

Cooper Investors PTY Ltd. acquired a new position in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) in the 3rd quarter, Holdings Channel reports. The fund acquired 525,369 shares of the utilities provider’s stock, valued at approximately $7,050,000. Shenandoah Telecommunications accounts for about 1.9% of Cooper Investors PTY Ltd.’s portfolio, making the stock its 20th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ancora Advisors LLC acquired a new stake in Shenandoah Telecommunications in the 1st quarter valued at approximately $50,000. State of Wyoming acquired a new stake in shares of Shenandoah Telecommunications in the second quarter worth $65,000. Tower Research Capital LLC TRC increased its position in Shenandoah Telecommunications by 80.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 2,228 shares during the period. Raymond James Financial Inc. bought a new position in Shenandoah Telecommunications during the second quarter worth $76,000. Finally, Acadian Asset Management LLC acquired a new position in Shenandoah Telecommunications during the 1st quarter valued at $76,000. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN opened at $11.42 on Friday. The firm has a market capitalization of $626.68 million, a PE ratio of -18.12 and a beta of 0.85. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.59. Shenandoah Telecommunications Co has a 12-month low of $9.66 and a 12-month high of $15.84. The firm has a 50-day moving average price of $11.45 and a 200 day moving average price of $12.94.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Wednesday, October 29th. The utilities provider reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. Shenandoah Telecommunications had a negative return on equity of 4.25% and a negative net margin of 9.98%.The company had revenue of $89.80 million for the quarter, compared to analyst estimates of $90.95 million. Research analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Shenandoah Telecommunications Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a dividend of $0.11 per share. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.10. This represents a yield of 101.0%. The ex-dividend date was Friday, November 7th. Shenandoah Telecommunications’s dividend payout ratio is currently -17.46%.

Wall Street Analyst Weigh In

SHEN has been the topic of several research analyst reports. BWS Financial restated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Friday, October 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.00.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.