Cooper Investors PTY Ltd. Invests $7.05 Million in Shenandoah Telecommunications Co $SHEN

Cooper Investors PTY Ltd. acquired a new stake in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 525,369 shares of the utilities provider’s stock, valued at approximately $7,050,000. Shenandoah Telecommunications makes up about 1.9% of Cooper Investors PTY Ltd.’s investment portfolio, making the stock its 20th largest position. Cooper Investors PTY Ltd. owned about 0.96% of Shenandoah Telecommunications at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SHEN. Alberta Investment Management Corp grew its holdings in shares of Shenandoah Telecommunications by 171.3% during the 2nd quarter. Alberta Investment Management Corp now owns 176,657 shares of the utilities provider’s stock valued at $2,413,000 after acquiring an additional 111,530 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Shenandoah Telecommunications by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after purchasing an additional 116,040 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Shenandoah Telecommunications during the second quarter valued at $1,317,000. Geode Capital Management LLC grew its stake in Shenandoah Telecommunications by 8.1% in the second quarter. Geode Capital Management LLC now owns 1,248,255 shares of the utilities provider’s stock valued at $17,053,000 after purchasing an additional 93,340 shares in the last quarter. Finally, ECP ControlCo LLC increased its position in Shenandoah Telecommunications by 10.7% in the 2nd quarter. ECP ControlCo LLC now owns 2,714,371 shares of the utilities provider’s stock worth $37,078,000 after purchasing an additional 261,987 shares during the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN opened at $11.42 on Friday. The business’s 50-day simple moving average is $11.45 and its 200-day simple moving average is $12.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.50 and a current ratio of 0.50. Shenandoah Telecommunications Co has a 52 week low of $9.66 and a 52 week high of $15.84. The firm has a market cap of $626.68 million, a price-to-earnings ratio of -18.12 and a beta of 0.85.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, October 29th. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $89.80 million during the quarter, compared to analysts’ expectations of $90.95 million. As a group, equities research analysts expect that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Shenandoah Telecommunications Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were paid a $0.11 dividend. This represents a yield of 101.0%. The ex-dividend date was Friday, November 7th. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.10. Shenandoah Telecommunications’s dividend payout ratio (DPR) is -17.46%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Shenandoah Telecommunications in a report on Wednesday, October 8th. BWS Financial reiterated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.