Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Ecp Controlco, Llc Purchases 36,238 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc bought 36,238 shares of the stock in a transaction on Monday, June 2nd. The stock was purchased at an average price of $12.58 per share, with a total value of $455,874.04. Following the completion of the purchase, the insider now owns 2,599,274 shares of the company’s stock, valued at $32,698,866.92. This represents a 1.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, June 3rd, Ecp Controlco, Llc bought 26,623 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $12.85 per share, with a total value of $342,105.55.

Shenandoah Telecommunications Trading Down 0.5%

NASDAQ SHEN opened at $12.86 on Thursday. The company has a fifty day simple moving average of $12.26 and a two-hundred day simple moving average of $12.24. The stock 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 12-month low of $9.77 and a 12-month high of $21.89. 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 (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 the consensus estimate 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 analysts’ expectations of $89.31 million. During the same period last year, the business earned ($0.07) EPS. On average, analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SHEN. Ancora Advisors LLC purchased a new position in shares of Shenandoah Telecommunications during the first quarter worth $50,000. Smartleaf Asset Management LLC raised its holdings in shares of Shenandoah Telecommunications by 456.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,531 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Shenandoah Telecommunications during the first quarter worth $76,000. New Age Alpha Advisors LLC purchased a new position in shares of Shenandoah Telecommunications during the first quarter worth $90,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Shenandoah Telecommunications during the fourth quarter worth $101,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BWS Financial restated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Thursday, May 8th.

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.