Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Purchases 17,583 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc purchased 17,583 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was acquired at an average cost of $15.40 per share, with a total value of $270,778.20. Following the transaction, the insider directly owned 2,957,560 shares of the company's stock, valued at approximately $45,546,424. This represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Ecp Controlco, Llc also recently made the following trade(s):

• On Monday, July 21st, Ecp Controlco, Llc acquired 16,467 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $15.02 per share, for a total transaction of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc acquired 16,943 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.89 per share, for a total transaction of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc acquired 17,687 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.54 per share, with a total value of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $13.19 per share, with a total value of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc acquired 16,840 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.81 per share, with a total value of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.85 per share, for a total transaction of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc acquired 36,238 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Price Performance

Shares of Shenandoah Telecommunications stock traded down $0.25 on Friday, hitting $15.16. 117,571 shares of the company traded hands, compared to its average volume of 280,493. The stock has a market capitalization of $831.40 million, a P/E ratio of -24.85 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 Co has a 52 week low of $9.77 and a 52 week high of $21.89. The business has a 50-day simple moving average of $13.65 and a 200 day simple moving average of $12.55.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The firm had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. Shenandoah Telecommunications had a negative net margin of 10.07% and a negative return on equity of 3.18%. During the same period in the previous year, the company posted ($0.07) earnings per share. Research analysts expect that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Shenandoah Telecommunications by 75.4% during the 1st quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider's stock valued at $192,000 after acquiring an additional 6,573 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Shenandoah Telecommunications by 2.7% in the first quarter. Principal Financial Group Inc. now owns 228,612 shares of the utilities provider's stock valued at $2,874,000 after purchasing an additional 6,024 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at approximately $126,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 period. Finally, Barclays PLC raised its stake in shares of Shenandoah Telecommunications by 6.6% during the fourth quarter. Barclays PLC now owns 85,404 shares of the utilities provider's stock worth $1,078,000 after purchasing an additional 5,253 shares during the last quarter. Institutional investors and hedge funds own 61.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHEN. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th. BWS Financial reaffirmed a "buy" rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note 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.