Ecp Controlco, Llc Buys 16,840 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc purchased 16,840 shares of the stock in a transaction on Wednesday, June 4th. The stock was acquired at an average cost of $12.81 per share, for a total transaction of $215,720.40. Following the acquisition, the insider now directly owns 2,642,737 shares in the company, valued at approximately $33,853,460.97. This trade represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Thursday, June 5th, Ecp Controlco, Llc bought 13,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.19 per share, for a total transaction of $171,470.00.
• On Tuesday, June 3rd, Ecp Controlco, Llc bought 26,623 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.85 per share, for a total transaction of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Price Performance

Shares of SHEN traded up $0.19 during trading hours on Monday, hitting $13.69. The stock had a trading volume of 264,585 shares, compared to its average volume of 251,758. The company's fifty day moving average is $12.29 and its two-hundred day moving average is $12.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week high of $21.89. The stock has a market capitalization of $750.99 million, a price-to-earnings ratio of 3.61 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. During the same period in the prior year, the company earned ($0.07) EPS. On average, analysts anticipate that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently added to or reduced their stakes in SHEN. Rhumbline Advisers grew its holdings in Shenandoah Telecommunications by 4.1% during the 4th quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider's stock worth $1,892,000 after acquiring an additional 5,862 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Shenandoah Telecommunications by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider's stock worth $2,807,000 after acquiring an additional 6,323 shares during the last quarter. Private Advisor Group LLC bought a new stake in Shenandoah Telecommunications during the 4th quarter worth about $2,379,000. Bank of New York Mellon Corp grew its holdings in Shenandoah Telecommunications by 8.3% during the 4th quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider's stock worth $5,732,000 after acquiring an additional 34,740 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Shenandoah Telecommunications during the 4th quarter worth about $260,000. Institutional investors own 61.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHEN. BWS Financial reaffirmed a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

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.