Shenandoah Telecommunications (NASDAQ:SHEN) Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 16.1% in the fourth 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 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 SEC filing.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc increased its position in Shenandoah Telecommunications by 10,890.9% during 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 in the last quarter. nVerses Capital LLC purchased a new stake in Shenandoah Telecommunications during the third quarter worth approximately $37,000. Quantbot Technologies LP increased 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 worth $104,000 after acquiring an additional 6,244 shares in the last quarter. Quest Partners LLC raised its stake in shares of Shenandoah Telecommunications by 741.0% in the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider's stock valued at $108,000 after acquiring an additional 6,728 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Shenandoah Telecommunications by 135.2% in 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 in the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a "buy" rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Stock Down 0.4 %

NASDAQ:SHEN traded down $0.05 during trading hours on Thursday, hitting $11.49. The stock had a trading volume of 154,627 shares, compared to its average volume of 203,301. The business has a 50 day simple moving average of $12.39 and a two-hundred day simple moving average of $14.08. Shenandoah Telecommunications has a 1-year low of $10.42 and a 1-year high of $22.27. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $627.35 million, a PE ratio of 2.95 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $87.60 million for the quarter, compared to analysts' expectations of $88.80 million. Shenandoah Telecommunications had a negative return on equity of 1.45% and a net margin of 62.67%. During the same period last year, the firm earned $0.03 EPS. Analysts predict that Shenandoah Telecommunications will post -0.41 EPS for the current year.

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.