Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Buys 28,700 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc purchased 28,700 shares of the stock in a transaction dated Tuesday, July 8th. The stock was purchased at an average cost of $14.67 per share, for a total transaction of $421,029.00. Following the completion of the purchase, the insider directly owned 2,758,385 shares of the company's stock, valued at approximately $40,465,507.95. The trade was a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Ecp Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc purchased 15,314 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.40 per share, for a total transaction of $220,521.60.
• On Friday, June 13th, Ecp Fiber Holdings Gp, Llc purchased 6,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.73 per share, for a total transaction of $82,380.00.
• On Thursday, June 12th, Ecp Fiber Holdings Gp, Llc acquired 11,100 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.85 per share, for a total transaction of $153,735.00.
• On Monday, June 9th, Ecp Fiber Holdings Gp, Llc acquired 9,500 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.75 per share, for a total transaction of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.42 per share, for a total transaction of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc acquired 30,339 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.55 per share, for a total transaction of $380,754.45.
• On Thursday, May 29th, Ecp Fiber Holdings Gp, Llc acquired 32,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.46 per share, for a total transaction of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc acquired 20,045 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.30 per share, for a total transaction of $246,553.50.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc acquired 28,268 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $11.91 per share, for a total transaction of $336,671.88.

Shenandoah Telecommunications Trading Down 0.7%

NASDAQ:SHEN traded down $0.10 on Friday, reaching $14.78. The company's stock had a trading volume of 176,745 shares, compared to its average volume of 257,504. Shenandoah Telecommunications Co has a 12-month low of $9.77 and a 12-month high of $21.89. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.55. The firm has a market cap of $810.79 million, a price-to-earnings ratio of -24.23 and a beta of 0.89. The stock has a 50 day moving average price of $13.06 and a 200 day moving average price of $12.40.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) 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 business had revenue of $87.90 million during the quarter, compared to analysts' expectations of $89.31 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. On average, equities analysts anticipate that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Shenandoah Telecommunications by 2,104.3% in the 1st quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider's stock valued at $2,417,000 after buying an additional 183,536 shares during the period. Millennium Management LLC raised its holdings in shares of 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 buying an additional 146,221 shares during the period. Nuveen LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at $1,710,000. Goldman Sachs Group Inc. raised its holdings in shares of 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 buying an additional 116,040 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of 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 buying an additional 96,006 shares during the period. Hedge funds and other institutional investors own 61.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen raised Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th. BWS Financial restated a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st.

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.