Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Purchases 9,500 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc bought 9,500 shares of the business’s stock in a transaction on Monday, June 9th. The shares were bought at an average cost of $13.75 per share, for a total transaction of $130,625.00. Following the completion of the acquisition, the insider now directly owns 2,679,421 shares in the company, valued at approximately $36,842,038.75. This trade represents a 0.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc bought 14,184 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.42 per share, for a total transaction of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc bought 30,339 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.55 per share, for a total transaction of $380,754.45.
• On Thursday, May 29th, Ecp Fiber Holdings Gp, Llc bought 32,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.46 per share, for a total transaction of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc bought 20,045 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.30 per share, for a total transaction of $246,553.50.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc bought 28,268 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $11.91 per share, for a total transaction of $336,671.88.

Shenandoah Telecommunications Stock Down 0.4%

Shares of NASDAQ:SHEN opened at $13.88 on Friday. The company has a market capitalization of $761.42 million, a price-to-earnings ratio of 3.66 and a beta of 0.87. 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 business’s 50-day moving average is $12.36 and its 200-day moving average is $12.27. Shenandoah Telecommunications has a 1 year low of $9.77 and a 1 year high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data 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). The business had revenue of $87.90 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($0.07) earnings per share. Equities research analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SHEN. Ancora Advisors LLC acquired a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at about $50,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 purchasing an additional 3,531 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at about $76,000. New Age Alpha Advisors LLC acquired a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at about $90,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Shenandoah Telecommunications in the 4th quarter valued at about $101,000. 61.96% of the stock is owned by institutional investors and hedge funds.

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.