Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Acquires 14,358 Shares of Stock

Key Points

• ECP Controlco, LLC, a major shareholder, acquired 14,358 shares of Shenandoah Telecommunications at an average price of $13.26 per share, increasing their ownership to 3,365,233 shares.
• Shenandoah Telecommunications' stock has decreased 2.3% recently, trading at $12.95 with a market capitalization of $710.40 million.
• The company reported a quarterly EPS of ($0.19), slightly beating analysts' estimates, but had a negative net margin of 8.90% and a negative return on equity of 3.78%.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc acquired 14,358 shares of the stock in a transaction dated Thursday, August 28th. The shares were bought at an average price of $13.26 per share, with a total value of $190,387.08. Following the completion of the transaction, the insider directly owned 3,365,233 shares of the company's stock, valued at $44,622,989.58. The trade was a 0.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Ecp Controlco, Llc also recently made the following trade(s):

• On Friday, August 29th, Ecp Controlco, Llc acquired 12,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $13.25 per share, with a total value of $159,000.00.
• On Thursday, August 28th, Ecp Controlco, Llc acquired 14,358 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $13.26 per share, with a total value of $190,387.08.
• On Monday, August 11th, Ecp Controlco, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $11.88 per share, with a total value of $356,400.00.
• On Friday, August 8th, Ecp Controlco, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.52 per share, with a total value of $375,600.00.
• On Wednesday, July 30th, Ecp Controlco, Llc acquired 17,303 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.88 per share, with a total value of $257,468.64.
• On Tuesday, July 29th, Ecp Controlco, Llc acquired 19,852 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.88 per share, with a total value of $295,397.76.
• On Tuesday, July 22nd, Ecp Controlco, Llc acquired 17,583 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $15.40 per share, with a total value of $270,778.20.
• On Monday, July 21st, Ecp Controlco, Llc acquired 16,467 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $15.02 per share, with a total value of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc bought 16,943 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.89 per share, with a total value of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc bought 17,687 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.54 per share, with a total value of $257,168.98.

Shenandoah Telecommunications Stock Down 2.3%

Shenandoah Telecommunications stock traded down $0.30 during mid-day trading on Tuesday, reaching $12.95. The stock had a trading volume of 413,135 shares, compared to its average volume of 290,363. The firm has a market capitalization of $710.40 million, a PE ratio of -23.12 and a beta of 0.87. The stock's 50-day simple moving average is $13.86 and its 200-day simple moving average is $12.88. 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 Co has a fifty-two week low of $9.77 and a fifty-two week high of $16.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. The business had revenue of $88.57 million during the quarter, compared to analyst estimates of $89.94 million. Shenandoah Telecommunications had a negative net margin of 8.90% and a negative return on equity of 3.78%. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Institutional investors have recently bought and sold shares of the stock. ECP ControlCo LLC raised its position in Shenandoah Telecommunications by 10.7% during the 2nd quarter. ECP ControlCo LLC now owns 2,714,371 shares of the utilities provider's stock valued at $37,078,000 after purchasing an additional 261,987 shares during the last quarter. Geode Capital Management LLC raised its position in Shenandoah Telecommunications by 8.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,248,255 shares of the utilities provider's stock valued at $17,053,000 after purchasing an additional 93,340 shares during the last quarter. American Century Companies Inc. raised its position in Shenandoah Telecommunications by 51.3% during the 2nd quarter. American Century Companies Inc. now owns 739,551 shares of the utilities provider's stock valued at $10,102,000 after purchasing an additional 250,901 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Shenandoah Telecommunications by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider's stock valued at $6,841,000 after purchasing an additional 19,130 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 acquiring an additional 116,040 shares in the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $26.00.

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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