Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Purchases 16,840 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc bought 16,840 shares of the stock in a transaction dated Wednesday, June 4th. The shares were bought at an average price of $12.81 per share, for a total transaction of $215,720.40. Following the completion of the acquisition, the insider now owns 2,642,737 shares in the company, valued at approximately $33,853,460.97. The trade was a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Thursday, June 5th, Ecp Controlco, Llc purchased 13,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $13.19 per share, with a total value of $171,470.00.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The shares were bought 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 bought at an average cost of $12.58 per share, with a total value of $455,874.04.

Shenandoah Telecommunications Trading Up 2.0%

Shares of Shenandoah Telecommunications stock traded up $0.27 on Friday, reaching $13.50. The company had a trading volume of 207,591 shares, compared to its average volume of 250,697. The firm's 50 day moving average price is $12.28 and its two-hundred day moving average price is $12.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The firm has a market cap of $740.57 million, a PE ratio of 3.56 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its 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). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The firm had revenue of $87.90 million during the quarter, compared to analysts' expectations of $89.31 million. During the same period in the previous year, the firm earned ($0.07) EPS. Sell-side analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHEN has been the topic of several recent research reports. BWS Financial reissued 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 raised shares of Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Shenandoah Telecommunications by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock valued at $69,731,000 after acquiring an additional 68,133 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Shenandoah Telecommunications by 3.6% in the first 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 period. Goldman Sachs Group Inc. grew its holdings in shares of Shenandoah Telecommunications by 27.8% in the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider's stock valued at $6,700,000 after purchasing an additional 116,040 shares in the last quarter. Northern Trust Corp increased its position in shares of Shenandoah Telecommunications by 1.3% during the fourth quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider's stock worth $6,607,000 after acquiring an additional 6,904 shares during the period. Finally, American Century Companies Inc. increased its holdings in Shenandoah Telecommunications by 12.8% during the 1st quarter. American Century Companies Inc. now owns 488,650 shares of the utilities provider's stock worth $6,142,000 after purchasing an additional 55,432 shares during the period. Institutional investors and hedge funds own 61.96% of the company's stock.

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.

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