Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Acquires 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 Shenandoah Telecommunications stock in a transaction dated Wednesday, July 16th. The shares were bought at an average price of $14.59 per share, with a total value of $326,845.18. Following the transaction, the insider directly owned 2,873,506 shares in the company, valued at approximately $41,924,452.54. The trade was a 0.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major 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 Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc bought 28,952 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $14.69 per share, for a total transaction of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc acquired 21,137 shares of Shenandoah Telecommunications stock. The stock was purchased 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 acquired 8,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.76 per share, for a total transaction of $118,080.00.
• On Tuesday, July 8th, Ecp Fiber Holdings Gp, Llc bought 28,700 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.67 per share, for a total transaction of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc bought 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 acquired 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 bought 11,100 shares of Shenandoah Telecommunications stock. The stock was purchased 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 stock was acquired at an average cost of $13.75 per share, for a total transaction of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $13.42 per share, for a total transaction of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc bought 30,339 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.55 per share, with a total value of $380,754.45.

Shenandoah Telecommunications Stock Performance

Shenandoah Telecommunications stock traded up $0.41 during mid-day trading on Monday, reaching $15.14. The company's stock had a trading volume of 50,876 shares, compared to its average volume of 261,455. Shenandoah Telecommunications Co has a twelve month low of $9.77 and a twelve month high of $21.89. The firm has a market cap of $830.80 million, a price-to-earnings ratio of -24.81 and a beta of 0.89. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $13.37 and a 200-day moving average price of $12.47.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $87.90 million for the quarter, compared to analyst estimates 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) EPS. Sell-side analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 1,061 shares during the period. Nebula Research & Development LLC raised its holdings in Shenandoah Telecommunications by 5.5% during the 4th quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider's stock worth $278,000 after buying an additional 1,147 shares during the period. PAX Financial Group LLC raised its holdings in Shenandoah Telecommunications by 3.8% during the 4th quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider's stock worth $468,000 after buying an additional 1,353 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of 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 purchasing an additional 1,380 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Shenandoah Telecommunications by 3.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 42,600 shares of the utilities provider's stock valued at $535,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 61.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SHEN shares. BWS Financial reissued 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 to a "sell" rating in a research report on Thursday, May 8th.

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.