Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Purchases 16,943 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc bought 16,943 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was bought at an average cost of $14.89 per share, for a total transaction of $252,281.27. Following the completion of the transaction, the insider directly owned 2,793,015 shares in the company, valued at approximately $41,587,993.35. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at 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 Wednesday, July 9th, Ecp Controlco, Llc bought 17,687 shares of Shenandoah Telecommunications stock. The stock was 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 bought 13,000 shares of Shenandoah Telecommunications stock. The stock was 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 bought 16,840 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $12.81 per share, for a total transaction of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc bought 26,623 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $12.85 per share, for a total transaction of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Performance

Shenandoah Telecommunications stock traded up $0.41 during midday trading on Monday, hitting $15.19. 441,048 shares of the company's stock were exchanged, compared to its average volume of 258,875. 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 quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $833.28 million, a price-to-earnings ratio of -24.90 and a beta of 0.89. The firm's 50 day simple moving average is $13.06 and its 200 day simple moving average is $12.40.

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 (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. The business had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. During the same period in the previous year, the business posted ($0.07) earnings per share. Equities research analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Institutional Trading of Shenandoah Telecommunications

Several hedge funds have recently made changes to their positions in the company. Ancora Advisors LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $50,000. Acadian Asset Management LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $76,000. New Age Alpha Advisors LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $90,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at about $101,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at about $126,000. Institutional investors and hedge funds own 61.96% of the company's stock.

Wall Street Analyst Weigh In

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

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.