Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Purchases 11,934 Shares

Key Points

• Ecp Fiber Holdings Gp, Llc, a major shareholder of Shenandoah Telecommunications Co, purchased 11,934 shares at an average price of $15.06 per share, increasing their ownership to approximately 3 million shares valued at over $45 million.
• Shenandoah Telecommunications' stock has seen recent trading activity show a decline of 1.7%, with shares currently priced at $14.80.
• The company reported a net loss during its last earnings quarter, with an EPS of ($0.19), missing analysts' expectations and reflecting a negative net margin of 10.07%.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc purchased 11,934 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were bought at an average price of $15.06 per share, for a total transaction of $179,726.04. Following the completion of the transaction, the insider owned 3,004,539 shares of the company's stock, valued at approximately $45,248,357.34. This trade represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 Friday, July 25th, Ecp Fiber Holdings Gp, Llc bought 10,264 shares of Shenandoah Telecommunications stock. The stock was 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 bought 8,980 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $15.52 per share, with a total value of $139,369.60.
• On Wednesday, July 23rd, Ecp Fiber Holdings Gp, Llc acquired 15,801 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $15.64 per share, with a total value 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.
• On Thursday, July 17th, Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The stock was purchased 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 acquired 22,402 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.59 per share, with a total value of $326,845.18.
• On Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc acquired 28,952 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.69 per share, with a total value of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc acquired 21,137 shares of Shenandoah Telecommunications stock. The shares were acquired 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 bought 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 stock was purchased at an average cost of $14.67 per share, for a total transaction of $421,029.00.

Shenandoah Telecommunications Price Performance

SHEN traded down $1.20 on Friday, hitting $13.48. 229,565 shares of the company's stock traded hands, compared to its average volume of 280,718. The company's 50 day simple moving average is $14.01 and its 200-day simple moving average is $12.64. The firm has a market cap of $739.51 million, a price-to-earnings ratio of -21.98 and a beta of 0.89. Shenandoah Telecommunications Co has a one year low of $9.77 and a one year high of $20.42. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.01. The firm had revenue of $88.57 million during the quarter, compared to analysts' expectations of $89.94 million. Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. As a group, research analysts anticipate that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Shenandoah Telecommunications by 2,104.3% in the 1st quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider's stock worth $2,417,000 after buying an additional 183,536 shares during the period. Millennium Management LLC lifted its holdings in shares of Shenandoah Telecommunications by 48.3% in the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider's stock worth $5,644,000 after buying an additional 146,221 shares during the period. Nuveen LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter worth $1,710,000. Goldman Sachs Group Inc. lifted its holdings in shares of Shenandoah Telecommunications by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider's stock worth $6,700,000 after buying an additional 116,040 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Shenandoah Telecommunications by 66.7% in the 4th quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider's stock worth $3,025,000 after buying an additional 96,006 shares during the period. Hedge funds and other institutional investors own 61.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SHEN. Wall Street Zen raised Shenandoah Telecommunications to a "sell" rating in a research report on Thursday, May 8th. BWS Financial reissued a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research report 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.