Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Buys 23,703 Shares

Key Points

• Major shareholder Ecp Fiber Holdings Gp, Llc has recently purchased a total of $1,368,715.00 worth of Shenandoah Telecommunications stock across multiple transactions.
• Shenandoah Telecommunications reported a loss per share of ($0.19) for the last quarter, surpassing analysts' expectations of ($0.20), with revenue of $88.57 million.
• The company has a current market cap of $711.53 million, and analysts have set a target price range with BWS Financial suggesting a buy with a price target of $26.00.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc purchased 23,703 shares of the firm's stock in a transaction on Monday, August 4th. The shares were purchased at an average cost of $13.00 per share, with a total value of $308,139.00. Following the completion of the transaction, the insider owned 3,118,244 shares of the company's stock, valued at approximately $40,537,172. The trade was a 0.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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, August 7th, Ecp Fiber Holdings Gp, Llc acquired 25,104 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $12.71 per share, for a total transaction of $319,071.84.
• On Wednesday, August 6th, Ecp Fiber Holdings Gp, Llc acquired 22,085 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.01 per share, for a total transaction of $287,325.85.
• On Tuesday, August 5th, Ecp Fiber Holdings Gp, Llc purchased 26,117 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $13.12 per share, for a total transaction of $342,655.04.
• On Friday, August 1st, Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $13.48 per share, for a total transaction of $404,400.00.
• On Thursday, July 31st, Ecp Fiber Holdings Gp, Llc bought 22,847 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.74 per share, with a total value of $336,764.78.
• On Monday, July 28th, Ecp Fiber Holdings Gp, Llc acquired 11,934 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $15.06 per share, with a total value of $179,726.04.
• On Friday, July 25th, Ecp Fiber Holdings Gp, Llc purchased 10,264 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $15.22 per share, with a total value of $156,218.08.
• On Thursday, July 24th, Ecp Fiber Holdings Gp, Llc acquired 8,980 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $15.52 per share, with a total value of $139,369.60.
• On Wednesday, July 23rd, Ecp Fiber Holdings Gp, Llc acquired 15,801 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $15.64 per share, for a total transaction of $247,127.64.
• On Friday, July 18th, Ecp Fiber Holdings Gp, Llc acquired 20,004 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.83 per share, for a total transaction of $296,659.32.

Shenandoah Telecommunications Price Performance

Shares of SHEN traded down $0.56 during midday trading on Friday, reaching $12.17. The stock had a trading volume of 507,204 shares, compared to its average volume of 331,362. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $16.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73. The firm's 50 day moving average price is $14.11 and its 200-day moving average price is $12.70. The company has a market capitalization of $667.65 million, a P/E ratio of -21.73 and a beta of 0.90.

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

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alberta Investment Management Corp grew its holdings in shares of Shenandoah Telecommunications by 171.3% during the second quarter. Alberta Investment Management Corp now owns 176,657 shares of the utilities provider's stock valued at $2,413,000 after buying an additional 111,530 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Shenandoah Telecommunications by 2.1% during the second quarter. Intech Investment Management LLC now owns 50,706 shares of the utilities provider's stock valued at $693,000 after buying an additional 1,045 shares in the last quarter. Creative Planning grew its holdings in shares of Shenandoah Telecommunications by 16.9% during the second quarter. Creative Planning now owns 70,509 shares of the utilities provider's stock valued at $963,000 after buying an additional 10,176 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Shenandoah Telecommunications by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,831 shares of the utilities provider's stock valued at $162,000 after buying an additional 855 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Shenandoah Telecommunications by 8.1% during the second quarter. Geode Capital Management LLC now owns 1,248,255 shares of the utilities provider's stock valued at $17,053,000 after buying an additional 93,340 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a report on Sunday. BWS Financial reiterated a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st.

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.