Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Purchases 30,000 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of Shenandoah Telecommunications stock in a transaction on Thursday, July 17th. The shares were bought at an average cost of $14.62 per share, for a total transaction of $438,600.00. Following the completion of the purchase, the insider directly owned 2,903,506 shares of the company’s stock, valued at $42,449,257.72. The trade was a 1.04% 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 more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, July 18th, Ecp Fiber Holdings Gp, Llc acquired 20,004 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $14.83 per share, with a total value of $296,659.32.
• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc purchased 22,402 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $14.59 per share, for a total transaction of $326,845.18.
• On Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc purchased 28,952 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $14.69 per share, for a total transaction of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc acquired 21,137 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $15.28 per share, with a total value of $322,973.36.
• On Friday, July 11th, Ecp Fiber Holdings Gp, Llc acquired 8,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.76 per share, with a total value of $118,080.00.
• On Tuesday, July 8th, Ecp Fiber Holdings Gp, Llc purchased 28,700 shares of Shenandoah Telecommunications stock. The shares were bought 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 acquired 15,314 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.40 per share, for a total transaction of $220,521.60.
• On Friday, June 13th, Ecp Fiber Holdings Gp, Llc purchased 6,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $13.73 per share, for a total transaction of $82,380.00.
• On Thursday, June 12th, Ecp Fiber Holdings Gp, Llc purchased 11,100 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $13.85 per share, for a total transaction of $153,735.00.
• On Monday, June 9th, Ecp Fiber Holdings Gp, Llc acquired 9,500 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost 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. The company has a market cap of $831.13 million, a PE ratio of -24.84 and a beta of 0.89. The company’s 50-day moving average price is $13.43 and its 200 day moving average price is $12.49. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.55.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. The firm had revenue of $87.90 million during the quarter, compared to analyst estimates of $89.31 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Sell-side analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Shenandoah Telecommunications by 2,104.3% in the first quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider’s stock valued at $2,417,000 after acquiring an additional 183,536 shares during the last quarter. Millennium Management LLC lifted its holdings in Shenandoah Telecommunications by 48.3% during the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock worth $5,644,000 after purchasing an additional 146,221 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at about $1,710,000. Goldman Sachs Group Inc. grew its position in shares of Shenandoah Telecommunications by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock worth $6,700,000 after buying an additional 116,040 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Shenandoah Telecommunications by 66.7% in the 4th quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider’s stock valued at $3,025,000 after purchasing an additional 96,006 shares during the period. Institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SHEN. BWS Financial reaffirmed a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Thursday, May 8th.

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.