Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Purchases 20,004 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc acquired 20,004 shares of Shenandoah Telecommunications stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average cost of $14.83 per share, for a total transaction of $296,659.32. Following the purchase, the insider directly owned 2,923,510 shares in the company, valued at $43,355,653.30. The trade was a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ecp Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Thursday, July 17th, Ecp Fiber Holdings Gp, Llc bought 30,000 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $14.62 per share, for a total transaction of $438,600.00.
• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc bought 22,402 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $14.59 per share, for a total transaction of $326,845.18.
• On Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc acquired 28,952 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.69 per share, with a total value of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc purchased 21,137 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $15.28 per share, with a total value of $322,973.36.
• On Friday, July 11th, Ecp Fiber Holdings Gp, Llc bought 8,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $14.76 per share, for a total transaction of $118,080.00.
• On Tuesday, July 8th, Ecp Fiber Holdings Gp, Llc bought 28,700 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.67 per share, for a total transaction of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc bought 15,314 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $14.40 per share, with a total value of $220,521.60.
• On Friday, June 13th, Ecp Fiber Holdings Gp, Llc purchased 6,000 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $13.73 per share, with a total value of $82,380.00.
• On Thursday, June 12th, Ecp Fiber Holdings Gp, Llc bought 11,100 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $13.85 per share, with a total value of $153,735.00.
• On Monday, June 9th, Ecp Fiber Holdings Gp, Llc bought 9,500 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $13.75 per share, with a total value of $130,625.00.

Shenandoah Telecommunications Trading Up 2.9%

Shares of NASDAQ:SHEN opened at $15.15 on Tuesday. Shenandoah Telecommunications Co has a 12-month low of $9.77 and a 12-month high of $21.89. The business’s fifty day simple moving average is $13.43 and its 200-day simple moving average is $12.49. The company has a market capitalization of $831.13 million, a PE ratio of -24.84 and a beta of 0.89. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). The company had revenue of $87.90 million during the quarter, compared to analysts’ expectations of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. During the same quarter in the previous year, the company earned ($0.07) EPS. As a group, equities research analysts predict that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SHEN. GAMMA Investing LLC raised its stake in Shenandoah Telecommunications by 75.4% in the first quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider’s stock valued at $192,000 after buying an additional 6,573 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Shenandoah Telecommunications by 2.7% during the first quarter. Principal Financial Group Inc. now owns 228,612 shares of the utilities provider’s stock worth $2,874,000 after purchasing an additional 6,024 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Shenandoah Telecommunications during the fourth quarter worth about $126,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Shenandoah Telecommunications by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Shenandoah Telecommunications by 6.6% during the fourth quarter. Barclays PLC now owns 85,404 shares of the utilities provider’s stock worth $1,078,000 after purchasing an additional 5,253 shares in the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHEN. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen upgraded Shenandoah Telecommunications to a “sell” rating in a research report on Thursday, May 8th.

Shenandoah Telecommunications Company 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.