Shenandoah Telecommunications (NASDAQ:SHEN) Position Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,012,685 shares of the utilities provider’s stock after buying an additional 140,314 shares during the period. DAVENPORT & Co LLC owned approximately 1.85% of Shenandoah Telecommunications worth $12,770,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in shares of Shenandoah Telecommunications by 10,890.9% in the fourth quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock worth $30,000 after buying an additional 2,396 shares during the period. nVerses Capital LLC acquired a new position in Shenandoah Telecommunications in the 3rd quarter worth approximately $37,000. Quantbot Technologies LP grew its position in Shenandoah Telecommunications by 570.2% during the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 6,244 shares in the last quarter. Quest Partners LLC raised its stake in Shenandoah Telecommunications by 741.0% during the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 6,728 shares during the period. Finally, GAMMA Investing LLC raised its stake in Shenandoah Telecommunications by 135.2% during the 4th quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 5,013 shares during the period. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Price Performance

NASDAQ SHEN opened at $10.80 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $589.68 million, a price-to-earnings ratio of 2.78 and a beta of 0.63. The company has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $14.22. Shenandoah Telecommunications has a 52-week low of $10.42 and a 52-week high of $22.27.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, November 7th. The utilities provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Shenandoah Telecommunications had a negative return on equity of 1.45% and a net margin of 62.67%. The company had revenue of $87.60 million during the quarter, compared to analysts’ expectations of $88.80 million. During the same quarter in the previous year, the company earned $0.03 EPS. Equities research analysts predict that Shenandoah Telecommunications will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Wednesday, November 13th.

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.