Ecp Fiber Holdings Gp, Llc Buys 6,000 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc acquired 6,000 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $13.73 per share, with a total value of $82,380.00. Following the transaction, the insider now owns 2,714,371 shares of the company’s stock, valued at approximately $37,268,313.83. The trade was a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 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 Thursday, June 12th, Ecp Fiber Holdings Gp, Llc bought 11,100 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.85 per share, with a total value of $153,735.00.
• On Monday, June 9th, Ecp Fiber Holdings Gp, Llc purchased 9,500 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $13.42 per share, with a total value of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc purchased 30,339 shares of Shenandoah Telecommunications stock. The stock was acquired 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 acquired 32,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.46 per share, with a total value of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc bought 20,045 shares of Shenandoah Telecommunications stock. The stock was 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 purchased 28,268 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $11.91 per share, with a total value of $336,671.88.

Shenandoah Telecommunications Trading Up 3.3%

NASDAQ SHEN traded up $0.46 during mid-day trading on Monday, hitting $14.30. The company’s stock had a trading volume of 322,873 shares, compared to its average volume of 252,084. The firm has a market capitalization of $784.46 million, a P/E ratio of 3.77 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. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The stock’s fifty day simple moving average is $12.42 and its two-hundred day simple moving average is $12.26.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC purchased a new stake in shares of Shenandoah Telecommunications in the fourth quarter worth about $2,379,000. GAMMA Investing LLC boosted its holdings in Shenandoah Telecommunications by 2,104.3% in the 1st quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider’s stock worth $2,417,000 after acquiring an additional 183,536 shares during the period. Millennium Management LLC grew its position in Shenandoah Telecommunications by 48.3% in the first quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock valued at $5,644,000 after acquiring an additional 146,221 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Shenandoah Telecommunications during the first quarter valued at approximately $1,710,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Shenandoah Telecommunications by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after purchasing an additional 116,040 shares during the period. 61.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.