Ecp Controlco, Llc Purchases 17,303 Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) Stock

Key Points

• Ecp Controlco, LLC acquired 17,303 shares of Shenandoah Telecommunications at an average price of $14.88 per share, totaling approximately $257,469, increasing their ownership to over 3 million shares.
• Shenandoah Telecommunications shares experienced a slight decline of 0.8%, trading at $14.68, with a market cap of $805.34 million.
• Institutional investors have been actively trading Shenandoah shares, with notable increases in holdings by firms such as GAMMA Investing LLC and Goldman Sachs Group Inc..

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc purchased 17,303 shares of Shenandoah Telecommunications stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $14.88 per share, with a total value of $257,468.64. Following the completion of the transaction, the insider directly owned 3,041,694 shares in the company, valued at $45,260,406.72. The trade was a 0.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Tuesday, July 29th, Ecp Controlco, Llc acquired 19,852 shares of Shenandoah Telecommunications stock. The stock was bought 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 acquired at an average price of $15.40 per share, with a total value of $270,778.20.
• On Monday, July 21st, Ecp Controlco, Llc purchased 16,467 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $15.02 per share, with a total value of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc purchased 16,943 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $14.89 per share, for a total transaction of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc purchased 17,687 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.54 per share, with a total value of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc purchased 13,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average price 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 price of $12.81 per share, for a total transaction of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.85 per share, with a total value of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc acquired 36,238 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN traded down $0.22 during mid-day trading on Monday, hitting $13.03. The company had a trading volume of 101,257 shares, compared to its average volume of 281,912. The stock has a market cap of $714.88 million, a price-to-earnings ratio of -23.30 and a beta of 0.90. Shenandoah Telecommunications Co has a 12 month low of $9.77 and a 12 month high of $18.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73. The firm's 50 day simple moving average is $14.05 and its two-hundred day simple moving average is $12.67.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, topping 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 analyst estimates of $89.94 million. As a group, equities research analysts forecast that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on SHEN shares. BWS Financial restated 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 Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a research report on Saturday.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Shenandoah Telecommunications by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider's stock valued at $349,000 after acquiring an additional 1,061 shares during the last quarter. Nebula Research & Development LLC lifted its stake in Shenandoah Telecommunications by 5.5% in the fourth quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider's stock valued at $278,000 after acquiring an additional 1,147 shares during the last quarter. PAX Financial Group LLC lifted its stake in Shenandoah Telecommunications by 3.8% in the fourth quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 1,353 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Shenandoah Telecommunications by 11.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock valued at $173,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Shenandoah Telecommunications by 3.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 42,600 shares of the utilities provider's stock valued at $535,000 after acquiring an additional 1,500 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.