Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Buys 22,402 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 22,402 shares of the stock in a transaction dated Wednesday, July 16th. The stock was acquired at an average cost of $14.59 per share, with a total value of $326,845.18. Following the purchase, the insider owned 2,873,506 shares of the company's stock, valued at approximately $41,924,452.54. This trade represents a 0.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc bought 28,952 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $14.69 per share, for a total transaction of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc purchased 21,137 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost 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 acquired 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 acquired 28,700 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $14.67 per share, for a total transaction of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc acquired 15,314 shares of Shenandoah Telecommunications stock. The stock was acquired 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 acquired 6,000 shares of Shenandoah Telecommunications stock. The stock was purchased 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 purchased 11,100 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price 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 bought at an average price of $13.75 per share, with a total value of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The stock was acquired 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 purchased 30,339 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.55 per share, with a total value of $380,754.45.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN traded up $0.15 during midday trading on Thursday, reaching $14.73. 456,985 shares of the company traded hands, compared to its average volume of 261,287. The company has a market cap of $808.09 million, a price-to-earnings ratio of -24.15 and a beta of 0.89. The stock has a 50-day moving average price of $13.25 and a 200 day moving average price of $12.44. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $21.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.20 and a quick ratio of 1.20.

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 analysts' consensus estimates of ($0.14) by ($0.05). The company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. During the same quarter last year, the firm posted ($0.07) earnings per share. Sell-side analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Shenandoah Telecommunications by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock valued at $69,731,000 after purchasing an additional 68,133 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Shenandoah Telecommunications by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider's stock valued at $6,841,000 after buying an additional 19,130 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Shenandoah Telecommunications by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider's stock worth $6,700,000 after acquiring an additional 116,040 shares during the period. Northern Trust Corp grew its holdings in Shenandoah Telecommunications by 1.3% during the fourth quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider's stock worth $6,607,000 after acquiring an additional 6,904 shares during the period. Finally, American Century Companies Inc. raised its position in Shenandoah Telecommunications by 12.8% in the first quarter. American Century Companies Inc. now owns 488,650 shares of the utilities provider's stock worth $6,142,000 after acquiring an additional 55,432 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SHEN shares. Wall Street Zen raised shares of Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th. BWS Financial reissued a "buy" rating and set a $26.00 price target 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.

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