DAVENPORT & Co LLC Sells 13,662 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

DAVENPORT & Co LLC cut its position in Shenandoah Telecommunications (NASDAQ:SHENFree Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 861,381 shares of the utilities provider’s stock after selling 13,662 shares during the quarter. DAVENPORT & Co LLC’s holdings in Shenandoah Telecommunications were worth $18,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHEN. Lazard Asset Management LLC lifted its holdings in Shenandoah Telecommunications by 45.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,595 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 810 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Shenandoah Telecommunications by 193.7% during the third quarter. Tower Research Capital LLC TRC now owns 3,213 shares of the utilities provider’s stock worth $66,000 after buying an additional 2,119 shares in the last quarter. UBS Group AG lifted its holdings in shares of Shenandoah Telecommunications by 2,432.8% during the third quarter. UBS Group AG now owns 4,787 shares of the utilities provider’s stock worth $81,000 after buying an additional 4,598 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Shenandoah Telecommunications during the third quarter worth $109,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Shenandoah Telecommunications by 28.7% during the first quarter. Captrust Financial Advisors now owns 5,027 shares of the utilities provider’s stock worth $119,000 after buying an additional 1,120 shares in the last quarter. 61.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, BWS Financial raised Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Monday, March 4th.

Get Our Latest Research Report on Shenandoah Telecommunications

Shenandoah Telecommunications Stock Performance

Shenandoah Telecommunications stock opened at $16.32 on Wednesday. Shenandoah Telecommunications has a 12-month low of $16.14 and a 12-month high of $25.51. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $18.88 and its two-hundred day moving average price is $20.82. The stock has a market cap of $823.34 million, a PE ratio of 102.01 and a beta of 0.52.

Shenandoah Telecommunications (NASDAQ:SHENGet Free Report) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $71.85 million. Shenandoah Telecommunications had a return on equity of 1.24% and a net margin of 2.80%. During the same quarter in the previous year, the business posted ($0.04) earnings per share. As a group, analysts expect that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Shenandoah Telecommunications Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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