Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Purchases 20,004 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc bought 20,004 shares of the business's stock in a transaction on Friday, July 18th. The shares were bought at an average price of $14.83 per share, for a total transaction of $296,659.32. Following the completion of the acquisition, the insider owned 2,923,510 shares of the company's stock, valued at approximately $43,355,653.30. This represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, July 17th, Ecp Fiber Holdings Gp, Llc purchased 30,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $14.62 per share, for a total transaction of $438,600.00.
• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc purchased 22,402 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $14.59 per share, for a total transaction of $326,845.18.
• On Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc purchased 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 purchased 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 bought 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 bought 28,700 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $14.67 per share, for a total transaction of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc bought 15,314 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $14.40 per share, for a total transaction of $220,521.60.
• On Friday, June 13th, Ecp Fiber Holdings Gp, Llc bought 6,000 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost 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 shares were purchased at an average cost 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 shares were purchased at an average cost of $13.75 per share, for a total transaction of $130,625.00.

Shenandoah Telecommunications Price Performance

SHEN stock traded down $0.30 during midday trading on Thursday, reaching $15.40. 189,631 shares of the company's stock traded hands, compared to its average volume of 299,332. The company has a 50-day simple moving average of $13.65 and a two-hundred day simple moving average of $12.55. Shenandoah Telecommunications Co has a 1-year low of $9.77 and a 1-year high of $21.89. The company has a market cap of $844.84 million, a price-to-earnings ratio of -25.25 and a beta of 0.89. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.55.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share 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 company had revenue of $87.90 million during the quarter, compared to the consensus estimate of $89.31 million. During the same quarter last year, the firm earned ($0.07) EPS. On average, analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SHEN shares. BWS Financial reaffirmed a "buy" rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen raised Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Defined Financial Planning LLC bought a new position in Shenandoah Telecommunications in the 2nd quarter worth approximately $444,000. State of Alaska Department of Revenue raised its position in Shenandoah Telecommunications by 7.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 27,414 shares of the utilities provider's stock worth $374,000 after purchasing an additional 2,000 shares during the last quarter. Goldman Sachs Group Inc. raised its position in 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 purchasing an additional 116,040 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $76,000. Finally, Caxton Associates LLP bought a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $194,000. Institutional investors 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.