Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Acquires $171,470.00 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc acquired 13,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $13.19 per share, with a total value of $171,470.00. Following the completion of the transaction, the insider now directly owns 2,655,737 shares of the company’s stock, valued at $35,029,171.03. This trade represents a 0.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ecp Controlco, Llc also recently made the following trade(s):

• On Wednesday, June 4th, Ecp Controlco, Llc purchased 16,840 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $12.81 per share, for a total transaction of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc purchased 26,623 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $12.85 per share, with a total value of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc acquired 36,238 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Trading Up 2.0%

SHEN opened at $13.50 on Monday. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week high of $21.89. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $12.29 and a 200-day simple moving average of $12.24. The firm has a market cap of $740.57 million, a P/E ratio of 3.56 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced 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 firm had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $89.31 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. During the same quarter last year, the business earned ($0.07) earnings per share. On average, equities analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Shenandoah Telecommunications

Several hedge funds have recently made changes to their positions in SHEN. Ancora Advisors LLC acquired a new position in shares of Shenandoah Telecommunications in the first quarter valued at approximately $50,000. Smartleaf Asset Management LLC boosted its position in Shenandoah Telecommunications by 456.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after buying an additional 3,531 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Shenandoah Telecommunications in the first quarter worth $76,000. New Age Alpha Advisors LLC purchased a new stake in shares of Shenandoah Telecommunications during the first quarter worth $90,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at $101,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

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.