Ecp Fiber Holdings Gp, Llc Buys 32,000 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc bought 32,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were bought at an average price of $12.46 per share, with a total value of $398,720.00. Following the completion of the transaction, the insider now owns 2,532,697 shares in the company, valued at approximately $31,557,404.62. This trade represents a 1.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc bought 30,339 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.55 per share, with a total value of $380,754.45.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc acquired 20,045 shares of Shenandoah Telecommunications stock. The shares were acquired 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 shares were acquired at an average price of $11.91 per share, with a total value of $336,671.88.

Shenandoah Telecommunications Price Performance

Shares of SHEN stock opened at $12.86 on Thursday. 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 company has a market cap of $705.46 million, a P/E ratio of 3.39 and a beta of 0.82. Shenandoah Telecommunications has a twelve month low of $9.77 and a twelve month high of $21.89. The business has a fifty day simple moving average of $12.26 and a 200 day simple moving average of $12.24.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted 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). The firm had revenue of $87.90 million during the quarter, compared to the consensus estimate 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 in the prior year, the business posted ($0.07) earnings per share. On average, sell-side analysts forecast that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently bought and sold shares of the company. Ancora Advisors LLC bought a new position in Shenandoah Telecommunications in the first quarter valued at about $50,000. Smartleaf Asset Management LLC raised its position in Shenandoah Telecommunications by 456.8% in the fourth 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 last quarter. Acadian Asset Management LLC bought a new position in Shenandoah Telecommunications in the first quarter valued at about $76,000. New Age Alpha Advisors LLC bought a new position in Shenandoah Telecommunications in the first quarter valued at about $90,000. Finally, KLP Kapitalforvaltning AS bought a new position in Shenandoah Telecommunications in the fourth quarter valued at about $101,000. 61.96% of the stock is currently owned by institutional investors.

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.