Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Controlco, Llc Buys 16,467 Shares

Shenandoah Telecommunications Co (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc acquired 16,467 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was purchased at an average cost of $15.02 per share, with a total value of $247,334.34. Following the purchase, the insider owned 2,939,977 shares of the company’s stock, valued at $44,158,454.54. The trade was a 0.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major 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, July 22nd, Ecp Controlco, Llc acquired 17,583 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $15.40 per share, for a total transaction of $270,778.20.
• On Thursday, July 10th, Ecp Controlco, Llc bought 16,943 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.89 per share, with a total value of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc acquired 17,687 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.54 per share, with a total value of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $13.19 per share, with a total value of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc acquired 16,840 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.81 per share, with a total value of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.85 per share, with a total value of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.58 per share, with a total value of $455,874.04.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN opened at $15.70 on Thursday. The company has a market cap of $861.25 million, a PE ratio of -25.74 and a beta of 0.89. Shenandoah Telecommunications Co has a 12 month low of $9.77 and a 12 month high of $21.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50-day simple moving average of $13.58 and a 200-day simple moving average of $12.53.

Shenandoah Telecommunications (NASDAQ:SHEN) last released 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 net margin of 10.07% and a negative return on equity of 3.18%. The company had revenue of $87.90 million during the quarter, compared to analysts’ expectations of $89.31 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. On average, equities analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently bought and sold shares of SHEN. GAMMA Investing LLC grew its stake 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 worth $192,000 after acquiring an additional 6,573 shares during the last quarter. Principal Financial Group Inc. raised its holdings in 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. Two Sigma Investments LP acquired a new position in shares of Shenandoah Telecommunications during the 4th quarter worth about $126,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Shenandoah Telecommunications by 4.0% in 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 purchasing an additional 1,061 shares during the period. Finally, Barclays PLC grew its position in shares of Shenandoah Telecommunications by 6.6% in the 4th quarter. Barclays PLC now owns 85,404 shares of the utilities provider’s stock valued at $1,078,000 after purchasing an additional 5,253 shares during the period. Institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SHEN. BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a “sell” rating in a report on Thursday, May 8th.

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.