Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Acquires $342,655.04 in 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 stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of $13.12 per share, for a total transaction of $342,655.04. Following the completion of the acquisition, the insider owned 3,144,361 shares in the company, valued at approximately $41,254,016.32. The trade was a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 Thursday, August 7th, Ecp Fiber Holdings Gp, Llc bought 25,104 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.71 per share, for a total transaction of $319,071.84.
• On Wednesday, August 6th, Ecp Fiber Holdings Gp, Llc bought 22,085 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.01 per share, for a total transaction of $287,325.85.
• On Monday, August 4th, Ecp Fiber Holdings Gp, Llc bought 23,703 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $308,139.00.
• On Friday, August 1st, Ecp Fiber Holdings Gp, Llc bought 30,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.48 per share, for a total transaction of $404,400.00.
• On Thursday, July 31st, Ecp Fiber Holdings Gp, Llc bought 22,847 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.74 per share, for a total transaction of $336,764.78.
• On Monday, July 28th, Ecp Fiber Holdings Gp, Llc bought 11,934 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $15.06 per share, for a total transaction of $179,726.04.
• On Friday, July 25th, Ecp Fiber Holdings Gp, Llc acquired 10,264 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $15.22 per share, for a total transaction of $156,218.08.
• On Thursday, July 24th, Ecp Fiber Holdings Gp, Llc bought 8,980 shares of Shenandoah Telecommunications stock. The stock was acquired 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 stock was 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 bought 20,004 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $14.83 per share, with a total value of $296,659.32.

Shenandoah Telecommunications Trading Down 4.4%

NASDAQ SHEN traded down $0.56 during mid-day trading on Friday, reaching $12.17. 507,204 shares of the stock were exchanged, compared to its average volume of 331,362. The stock has a market capitalization of $667.65 million, a PE ratio of -21.73 and a beta of 0.90. The business's fifty day simple moving average is $14.11 and its 200 day simple moving average is $12.70. Shenandoah Telecommunications Co has a 1-year low of $9.77 and a 1-year high of $16.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 0.73.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. Shenandoah Telecommunications had a negative net margin of 8.90% and a negative return on equity of 3.78%. The business had revenue of $88.57 million for the quarter, compared to analyst estimates of $89.94 million. On average, research analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SHEN shares. BWS Financial reaffirmed 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 cut shares of Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research note on Sunday.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently modified their holdings of SHEN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Shenandoah Telecommunications by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,831 shares of the utilities provider's stock valued at $162,000 after purchasing an additional 855 shares during the period. Intech Investment Management LLC raised its holdings in shares of Shenandoah Telecommunications by 2.1% during the second quarter. Intech Investment Management LLC now owns 50,706 shares of the utilities provider's stock valued at $693,000 after acquiring an additional 1,045 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Shenandoah Telecommunications by 4.0% during 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. Nebula Research & Development LLC increased its stake in Shenandoah Telecommunications by 5.5% in the 4th 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 period. Finally, Tower Research Capital LLC TRC increased its stake 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. Institutional investors 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.