Ecp Controlco, Llc Acquires 16,943 Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc acquired 16,943 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were bought at an average cost of $14.89 per share, for a total transaction of $252,281.27. Following the completion of the acquisition, the insider directly owned 2,793,015 shares of the company's stock, valued at approximately $41,587,993.35. The trade was a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 9th, Ecp Controlco, Llc acquired 17,687 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost 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 shares were bought at an average cost of $13.19 per share, for a total transaction of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc purchased 16,840 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost 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 stock was acquired at an average cost of $12.85 per share, for a total transaction of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc purchased 36,238 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Price Performance

Shares of Shenandoah Telecommunications stock traded down $0.10 during trading hours on Friday, reaching $14.78. The stock had a trading volume of 176,745 shares, compared to its average volume of 257,800. The stock's 50 day moving average is $13.06 and its 200 day moving average is $12.40. The firm has a market capitalization of $810.83 million, a PE ratio of -24.23 and a beta of 0.89. Shenandoah Telecommunications Co has a twelve month low of $9.77 and a twelve month high of $21.89. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The firm had revenue of $87.90 million during the quarter, compared to analyst estimates of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. During the same quarter last year, the company posted ($0.07) EPS. Equities analysts expect that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHEN has been the topic of several recent research reports. BWS Financial reaffirmed a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SHEN. GAMMA Investing LLC raised its position in shares of Shenandoah Telecommunications by 2,104.3% during the 1st quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider's stock worth $2,417,000 after purchasing an additional 183,536 shares during the last quarter. Millennium Management LLC raised its holdings in Shenandoah Telecommunications by 48.3% in the 1st 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 during the last quarter. Nuveen LLC acquired a new stake in Shenandoah Telecommunications in the 1st quarter valued at about $1,710,000. Goldman Sachs Group Inc. raised its holdings in Shenandoah Telecommunications by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider's stock valued at $6,700,000 after acquiring an additional 116,040 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Shenandoah Telecommunications by 66.7% in the 4th quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider's stock valued at $3,025,000 after acquiring an additional 96,006 shares during the last quarter. Institutional investors and hedge funds own 61.96% of the company's stock.

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.