Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Acquires 26,117 Shares of Stock

Key Points

• Ecp Fiber Holdings Gp, Llc, a major shareholder of Shenandoah Telecommunications, purchased 26,117 shares of stock at an average price of $13.12, totaling approximately $342,655, which increases their holdings to over 3.14 million shares.
• The company's stock recently fell by 2.3% to $12.97, with a 52-week range between $9.77 and $17.55, indicating current volatility in its share price.
• Shenandoah Telecommunications reported a loss of ($0.19) earnings per share for the last quarter, slightly better than the consensus estimate, with analysts forecasting continued challenges with a projected -0.49 EPS for the current year.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc bought 26,117 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of $13.12 per share, for a total transaction of $342,655.04. Following the acquisition, the insider directly owned 3,144,361 shares of the company's stock, valued at $41,254,016.32. The trade was a 0.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% 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, August 4th, Ecp Fiber Holdings Gp, Llc acquired 23,703 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.00 per share, with a total value of $308,139.00.
• On Friday, August 1st, Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $13.48 per share, with a total value of $404,400.00.
• On Thursday, July 31st, Ecp Fiber Holdings Gp, Llc bought 22,847 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.74 per share, with a total value of $336,764.78.
• On Monday, July 28th, Ecp Fiber Holdings Gp, Llc bought 11,934 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $15.06 per share, for a total transaction of $179,726.04.
• On Friday, July 25th, Ecp Fiber Holdings Gp, Llc purchased 10,264 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $15.22 per share, with a total value of $156,218.08.
• On Thursday, July 24th, Ecp Fiber Holdings Gp, Llc acquired 8,980 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $15.52 per share, for a total transaction of $139,369.60.
• On Wednesday, July 23rd, Ecp Fiber Holdings Gp, Llc bought 15,801 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $15.64 per share, for a total transaction of $247,127.64.
• On Friday, July 18th, Ecp Fiber Holdings Gp, Llc purchased 20,004 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $14.83 per share, with a total value of $296,659.32.
• On Thursday, July 17th, Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.62 per share, with a total value of $438,600.00.
• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc purchased 22,402 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.59 per share, with a total value of $326,845.18.

Shenandoah Telecommunications Stock Down 2.3%

NASDAQ SHEN traded down $0.31 during midday trading on Wednesday, hitting $12.97. 272,052 shares of the company traded hands, compared to its average volume of 325,242. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $17.55. The company's 50-day simple moving average is $14.11 and its 200-day simple moving average is $12.68. The company has a market cap of $711.53 million, a PE ratio of -23.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $88.57 million during the quarter, compared to the consensus estimate of $89.94 million. Shenandoah Telecommunications had a negative return on equity of 3.78% and a negative net margin of 8.90%. 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

A number of equities research analysts have weighed in on SHEN shares. BWS Financial reaffirmed a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a research note on Saturday.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Shenandoah Telecommunications by 75.4% during the first quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider's stock valued at $192,000 after purchasing an additional 6,573 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Shenandoah Telecommunications by 2.7% in the first quarter. Principal Financial Group Inc. now owns 228,612 shares of the utilities provider's stock worth $2,874,000 after acquiring an additional 6,024 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Shenandoah Telecommunications by 32.8% during the first quarter. Private Advisor Group LLC now owns 250,471 shares of the utilities provider's stock worth $3,148,000 after purchasing an additional 61,825 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Shenandoah Telecommunications during the 4th quarter worth $126,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 buying an additional 1,061 shares during the last quarter. 61.96% of the stock is owned by hedge funds and other 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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