Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Acquires $215,720.40 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc purchased 16,840 shares of Shenandoah Telecommunications stock in a transaction that occurred on Wednesday, June 4th. The shares were purchased at an average cost of $12.81 per share, with a total value of $215,720.40. Following the transaction, the insider now directly owns 2,642,737 shares of the company’s stock, valued at $33,853,460.97. This represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, June 5th, Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $13.19 per share, for a total transaction of $171,470.00.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $12.85 per share, for a total transaction of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc acquired 36,238 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.58 per share, with a total value of $455,874.04.

Shenandoah Telecommunications Stock Performance

SHEN stock opened at $13.50 on Monday. Shenandoah Telecommunications has a 1-year low of $9.77 and a 1-year high of $21.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market capitalization of $740.57 million, a P/E ratio of 3.56 and a beta of 0.87. The business has a 50-day moving average price of $12.29 and a 200 day moving average price of $12.24.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The business had revenue of $87.90 million for the quarter, compared to analyst estimates of $89.31 million. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, equities research analysts forecast that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SHEN. Smartleaf Asset Management LLC raised its stake in shares of Shenandoah Telecommunications by 456.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,531 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Shenandoah Telecommunications by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 1,061 shares during the last quarter. Barclays PLC raised its stake in 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 during the period. Proficio Capital Partners LLC purchased a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at approximately $260,000. Finally, Rhumbline Advisers lifted its stake in shares of Shenandoah Telecommunications by 4.1% in the 4th quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider’s stock valued at $1,892,000 after purchasing an additional 5,862 shares during the last quarter. Hedge funds and other institutional investors 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.