Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Buys 11,100 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc bought 11,100 shares of the stock in a transaction dated Thursday, June 12th. The stock was acquired at an average price of $13.85 per share, with a total value of $153,735.00. Following the completion of the purchase, the insider now owns 2,708,371 shares of the company’s stock, valued at $37,510,938.35. This represents a 0.41% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 13th, Ecp Fiber Holdings Gp, Llc acquired 6,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.73 per share, with a total value of $82,380.00.
• On Monday, June 9th, Ecp Fiber Holdings Gp, Llc acquired 9,500 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.75 per share, with a total value of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.42 per share, with a total value of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc acquired 30,339 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $12.55 per share, with a total value of $380,754.45.
• On Thursday, May 29th, Ecp Fiber Holdings Gp, Llc acquired 32,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $12.46 per share, with a total value of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc acquired 20,045 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $12.30 per share, with a total value of $246,553.50.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc acquired 28,268 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $11.91 per share, with a total value of $336,671.88.

Shenandoah Telecommunications Price Performance

Shares of SHEN opened at $14.30 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. Shenandoah Telecommunications has a 1 year low of $9.77 and a 1 year high of $21.89. The stock has a market cap of $784.46 million, a P/E ratio of 3.77 and a beta of 0.87. The stock’s 50-day moving average price is $12.42 and its two-hundred day moving average price is $12.26.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its 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 company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. During the same quarter last year, the business posted ($0.07) EPS. On average, equities analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Shenandoah Telecommunications by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider’s stock worth $69,731,000 after purchasing an additional 68,133 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Shenandoah Telecommunications by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider’s stock worth $6,841,000 after buying an additional 19,130 shares during the period. Goldman Sachs Group Inc. raised its holdings in Shenandoah Telecommunications by 27.8% during 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 period. Northern Trust Corp raised its holdings in Shenandoah Telecommunications by 1.3% during the 4th quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider’s stock worth $6,607,000 after buying an additional 6,904 shares during the period. Finally, American Century Companies Inc. raised its holdings in Shenandoah Telecommunications by 12.8% during the 1st quarter. American Century Companies Inc. now owns 488,650 shares of the utilities provider’s stock worth $6,142,000 after buying an additional 55,432 shares during the period. 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.