Ecp Controlco, Llc Buys 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 acquired 17,303 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $14.88 per share, for a total transaction of $257,468.64. Following the completion of the purchase, the insider directly owned 3,041,694 shares of the company's stock, valued at $45,260,406.72. The trade was a 0.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 29th, Ecp Controlco, Llc bought 19,852 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.88 per share, for a total transaction of $295,397.76.
• On Tuesday, July 22nd, Ecp Controlco, Llc bought 17,583 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $15.40 per share, for a total transaction of $270,778.20.
• On Monday, July 21st, Ecp Controlco, Llc bought 16,467 shares of Shenandoah Telecommunications stock. The shares were bought 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 bought 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 shares were 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 purchased 13,000 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price 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 shares were acquired at an average price 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 purchased at an average price 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 purchased at an average price of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Down 0.8%

Shares of NASDAQ SHEN traded down $0.12 during trading on Thursday, hitting $14.68. 323,698 shares of the company traded hands, compared to its average volume of 281,199. The business's fifty day moving average is $13.94 and its 200 day moving average is $12.62. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The firm has a market capitalization of $805.34 million, a price-to-earnings ratio of -24.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.20.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. Shenandoah Telecommunications had a negative net margin of 10.07% and a negative return on equity of 3.18%. Equities research analysts predict that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SHEN shares. BWS Financial restated a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Shenandoah Telecommunications by 2,104.3% in 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 period. Millennium Management LLC increased its position in shares of Shenandoah Telecommunications by 48.3% in the first 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 period. Nuveen LLC purchased a new position in shares of Shenandoah Telecommunications in the first quarter valued at about $1,710,000. Goldman Sachs Group Inc. increased its position in shares of Shenandoah Telecommunications by 27.8% in the first 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 period. Finally, Invesco Ltd. increased its position in shares of Shenandoah Telecommunications by 66.7% in the fourth 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 period. 61.96% of the stock is owned by institutional investors.

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.

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