DAVENPORT & Co LLC Lowers Position in Shenandoah Telecommunications Co $SHEN

Key Points

• DAVENPORT & Co LLC slashed its stake in Shenandoah Telecommunications by 96.3% in Q4, selling 641,104 shares and leaving 24,472 shares valued at about $283,000.
• Shenandoah beat estimates in the latest quarter (EPS -$0.10 vs. -$0.20; revenue $91.59M vs. $90.03M) but remains unprofitable with a -10.04% net margin and -4.01% ROE, while analysts are mixed (average rating: Hold; average target: $26).
• The stock opened at $15.25, trading in a 52-week range of $9.66–$15.92, with a market cap of $843.33M and a negative P/E of -22.43, reflecting its current unprofitable status.

DAVENPORT & Co LLC cut its stake in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 96.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,472 shares of the utilities provider's stock after selling 641,104 shares during the period. DAVENPORT & Co LLC's holdings in Shenandoah Telecommunications were worth $283,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Shenandoah Telecommunications by 11,367.6% in the third quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 4,206 shares during the last quarter. State of Wyoming purchased a new position in Shenandoah Telecommunications during the second quarter worth about $65,000. iSAM Funds UK Ltd purchased a new position in Shenandoah Telecommunications during the third quarter worth about $67,000. Tower Research Capital LLC TRC grew its position in Shenandoah Telecommunications by 80.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider's stock worth $68,000 after purchasing an additional 2,228 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Shenandoah Telecommunications by 223.8% in the 3rd quarter. Quantbot Technologies LP now owns 5,501 shares of the utilities provider's stock worth $74,000 after purchasing an additional 3,802 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Price Performance

SHEN opened at $15.25 on Thursday. Shenandoah Telecommunications Co has a fifty-two week low of $9.66 and a fifty-two week high of $15.92. The firm has a 50-day moving average of $13.52 and a 200 day moving average of $12.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $843.33 million, a P/E ratio of -22.43 and a beta of 0.67.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.10. The business had revenue of $91.59 million for the quarter, compared to analyst estimates of $90.03 million. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. On average, research analysts expect that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BWS Financial reissued a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Shenandoah Telecommunications in a report on Thursday, January 22nd. Finally, Wall Street Zen raised Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.

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