Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Purchases 15,314 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 15,314 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were purchased at an average cost of $14.40 per share, with a total value of $220,521.60. Following the transaction, the insider directly owned 2,729,685 shares of the company's stock, valued at $39,307,464. This trade represents a 0.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company's stock 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 8th, Ecp Fiber Holdings Gp, Llc acquired 28,700 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.67 per share, with a total value of $421,029.00.
• On Friday, June 13th, Ecp Fiber Holdings Gp, Llc purchased 6,000 shares of Shenandoah Telecommunications stock. The shares were 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 bought 9,500 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price 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 purchased 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 stock was bought at an average cost of $12.55 per share, for a total transaction of $380,754.45.
• On Thursday, May 29th, Ecp Fiber Holdings Gp, Llc acquired 32,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $12.46 per share, for a total transaction of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc purchased 20,045 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.30 per share, for a total transaction of $246,553.50.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc purchased 28,268 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $11.91 per share, for a total transaction of $336,671.88.

Shenandoah Telecommunications Price Performance

Shares of SHEN stock traded down $0.14 during trading on Wednesday, hitting $14.53. The company had a trading volume of 265,887 shares, compared to its average volume of 256,674. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $21.89. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average is $12.87 and its two-hundred day moving average is $12.36. The stock has a market capitalization of $797.12 million, a price-to-earnings ratio of -23.82 and a beta of 0.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. The firm had revenue of $87.90 million during the quarter, compared to the consensus estimate of $89.31 million. During the same quarter in the prior year, the business posted ($0.07) EPS. As a group, analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position 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 valued at $6,700,000 after buying an additional 116,040 shares during the period. Acadian Asset Management LLC purchased a new position in Shenandoah Telecommunications during the first quarter valued at $76,000. Caxton Associates LLP purchased a new position in Shenandoah Telecommunications during the first quarter valued at $194,000. Millennium Management LLC increased its holdings in shares of Shenandoah Telecommunications by 48.3% during the first quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider's stock valued at $5,644,000 after acquiring an additional 146,221 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Shenandoah Telecommunications by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider's stock valued at $364,000 after acquiring an additional 1,248 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SHEN shares. BWS Financial reiterated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen upgraded 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.

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