DAVENPORT & Co LLC Has $12.77 Million Stock Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

DAVENPORT & Co LLC lifted its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,012,685 shares of the utilities provider’s stock after purchasing an additional 140,314 shares during the quarter. DAVENPORT & Co LLC’s holdings in Shenandoah Telecommunications were worth $12,770,000 as of its most recent SEC filing.

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

Shenandoah Telecommunications Price Performance

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

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Shenandoah Telecommunications had a net margin of 62.67% and a negative return on equity of 1.45%. The business had revenue of $87.60 million during the quarter, compared to the consensus estimate of $88.80 million. During the same period in the prior year, the company posted $0.03 earnings per share. Research analysts predict that Shenandoah Telecommunications will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.