Ecp Controlco, Llc Buys 30,000 Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc purchased 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average cost of $11.88 per share, with a total value of $356,400.00. Following the completion of the acquisition, the insider owned 3,251,550 shares of the company’s stock, valued at approximately $38,628,414. This trade represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 8th, Ecp Controlco, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.52 per share, for a total transaction of $375,600.00.
• On Wednesday, July 30th, Ecp Controlco, Llc bought 17,303 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.88 per share, with a total value of $257,468.64.
• On Tuesday, July 29th, Ecp Controlco, Llc purchased 19,852 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $14.88 per share, for a total transaction of $295,397.76.
• On Tuesday, July 22nd, Ecp Controlco, Llc acquired 17,583 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $15.40 per share, with a total value of $270,778.20.
• On Monday, July 21st, Ecp Controlco, Llc acquired 16,467 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $15.02 per share, for a total transaction of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc bought 16,943 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $14.89 per share, with a total value of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc purchased 17,687 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.54 per share, for a total transaction of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $13.19 per share, with a total value of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc bought 16,840 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.81 per share, for a total transaction of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc purchased 26,623 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.85 per share, for a total transaction of $342,105.55.

Shenandoah Telecommunications Stock Performance

Shares of SHEN stock opened at $12.89 on Thursday. The stock has a fifty day moving average price of $14.09 and a 200 day moving average price of $12.72. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $707.15 million, a PE ratio of -23.02 and a beta of 0.90. Shenandoah Telecommunications Co has a 1 year low of $9.77 and a 1 year high of $16.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. Shenandoah Telecommunications had a negative return on equity of 3.78% and a negative net margin of 8.90%. The business had revenue of $88.57 million during the quarter, compared to analysts’ expectations of $89.94 million. Sell-side analysts forecast that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHEN has been the subject of several recent analyst reports. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a research report on Sunday.

Hedge Funds Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Shenandoah Telecommunications by 75.4% in the first quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider’s stock valued at $192,000 after purchasing an additional 6,573 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Shenandoah Telecommunications by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 228,612 shares of the utilities provider’s stock worth $2,874,000 after purchasing an additional 6,024 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Shenandoah Telecommunications by 32.8% during the 1st quarter. Private Advisor Group LLC now owns 250,471 shares of the utilities provider’s stock worth $3,148,000 after purchasing an additional 61,825 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Shenandoah Telecommunications in the 4th quarter valued at approximately $126,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Shenandoah Telecommunications by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock valued at $349,000 after buying an additional 1,061 shares during the last quarter. Institutional investors and hedge funds 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.