Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Acquires $139,369.60 in Stock

Key Points

• Major shareholder Ecp Fiber Holdings Gp, LLC acquired 8,980 shares of Shenandoah Telecommunications for a total of $139,369.60 on July 24th, increasing their stake by 0.30% to nearly 3 million shares valued at over $46 million.
• Shenandoah Telecommunications has reported a net margin of -10.07% and a negative return on equity of -3.18%, with forecasts predicting an EPS of -0.49 for the current year.
• Despite recent declines in share price, analysts have varying ratings on Shenandoah Telecommunications, with a recent target price set at $26.00 by BWS Financial.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc purchased 8,980 shares of the stock in a transaction dated Thursday, July 24th. The shares were acquired at an average price of $15.52 per share, with a total value of $139,369.60. Following the transaction, the insider owned 2,982,341 shares in the company, valued at $46,285,932.32. This trade represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Ecp Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Wednesday, July 23rd, Ecp Fiber Holdings Gp, Llc acquired 15,801 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $15.64 per share, with a total value of $247,127.64.
• On Friday, July 18th, Ecp Fiber Holdings Gp, Llc acquired 20,004 shares of Shenandoah Telecommunications stock. The shares were purchased 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 purchased 30,000 shares of Shenandoah Telecommunications stock. The stock was bought 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 bought 22,402 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost 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 acquired at an average cost of $14.69 per share, for a total transaction of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc acquired 21,137 shares of Shenandoah Telecommunications stock. The stock was 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 purchased 8,000 shares of Shenandoah Telecommunications stock. The shares were 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 acquired 28,700 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $14.67 per share, for a total transaction of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc purchased 15,314 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.40 per share, for a total transaction of $220,521.60.
• On Friday, June 13th, Ecp Fiber Holdings Gp, Llc purchased 6,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $13.73 per share, for a total transaction of $82,380.00.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN traded down $0.23 during mid-day trading on Friday, reaching $15.17. 209,075 shares of the company's stock were exchanged, compared to its average volume of 281,211. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $21.89. The firm has a 50-day moving average price of $13.65 and a two-hundred day moving average price of $12.55. The firm has a market capitalization of $832.23 million, a price-to-earnings ratio of -24.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.20 and a quick ratio of 1.20.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ancora Advisors LLC purchased a new position in shares of Shenandoah Telecommunications during the first quarter worth about $50,000. Acadian Asset Management LLC purchased a new position in shares of Shenandoah Telecommunications during the first quarter worth about $76,000. New Age Alpha Advisors LLC purchased a new position in shares of Shenandoah Telecommunications during the first quarter worth about $90,000. KLP Kapitalforvaltning AS purchased a new position in shares of Shenandoah Telecommunications during the fourth quarter worth about $101,000. Finally, Two Sigma Investments LP purchased a new position in shares of Shenandoah Telecommunications during the fourth quarter worth about $126,000. Hedge funds and other institutional investors own 61.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BWS Financial reissued 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 upgraded 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.