Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Purchases 30,000 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average cost of $14.62 per share, for a total transaction of $438,600.00. Following the purchase, the insider directly owned 2,903,506 shares in the company, valued at $42,449,257.72. This trade represents a 1.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Friday, July 18th, Ecp Fiber Holdings Gp, Llc acquired 20,004 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.83 per share, for a total transaction of $296,659.32.
• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc acquired 22,402 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.59 per share, with a total value of $326,845.18.
• On Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc acquired 28,952 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.69 per share, with a total value of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc purchased 21,137 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $15.28 per share, for a total transaction of $322,973.36.
• On Friday, July 11th, Ecp Fiber Holdings Gp, Llc purchased 8,000 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $14.76 per share, with a total value of $118,080.00.
• On Tuesday, July 8th, Ecp Fiber Holdings Gp, Llc bought 28,700 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.67 per share, with a total value of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc purchased 15,314 shares of Shenandoah Telecommunications stock. The shares were bought at an average price 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 acquired at an average price 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 purchased 9,500 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $13.75 per share, for a total transaction of $130,625.00.

Shenandoah Telecommunications Price Performance

Shares of SHEN traded up $0.06 during mid-day trading on Tuesday, hitting $15.21. 372,733 shares of the company traded hands, compared to its average volume of 262,750. The business has a 50-day moving average of $13.43 and a 200 day moving average of $12.49. The stock has a market capitalization of $834.42 million, a price-to-earnings ratio of -24.93 and a beta of 0.89. Shenandoah Telecommunications Co has a one year low of $9.77 and a one year 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 posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. During the same quarter last year, the business posted ($0.07) EPS. As a group, equities analysts expect that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SHEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 worth $349,000 after buying an additional 1,061 shares during the last quarter. Nebula Research & Development LLC lifted its position 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 buying an additional 1,147 shares during the last quarter. PAX Financial Group LLC increased 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 purchasing an additional 1,353 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Shenandoah Telecommunications by 11.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock valued at $173,000 after buying an additional 1,380 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position 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 worth $535,000 after buying an additional 1,500 shares during the period. 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.