Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Acquires $322,973.36 in Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 21,137 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was purchased at an average price of $15.28 per share, for a total transaction of $322,973.36. Following the acquisition, the insider directly owned 2,822,152 shares of the company's stock, valued at $43,122,482.56. The trade was a 0.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is available 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 Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc acquired 22,402 shares of Shenandoah Telecommunications stock. The stock was acquired 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, with a total value of $425,304.88.
• On Friday, July 11th, Ecp Fiber Holdings Gp, Llc bought 8,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.76 per share, with a total value of $118,080.00.
• On Tuesday, July 8th, Ecp Fiber Holdings Gp, Llc bought 28,700 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $14.67 per share, with a total value of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc acquired 15,314 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.40 per share, with a total value of $220,521.60.
• On Friday, June 13th, Ecp Fiber Holdings Gp, Llc bought 6,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price 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 bought at an average price 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 bought at an average price of $13.75 per share, for a total transaction of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $13.42 per share, for a total transaction of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc acquired 30,339 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $12.55 per share, for a total transaction of $380,754.45.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN traded up $0.08 during midday trading on Friday, hitting $14.81. 126,716 shares of the company's stock were exchanged, compared to its average volume of 260,765. The company's 50 day moving average price is $13.25 and its 200 day moving average price is $12.44. The firm has a market capitalization of $812.37 million, a PE ratio of -24.32 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 Co has a 12 month low of $9.77 and a 12 month high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $87.90 million during the quarter, compared to analyst estimates 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 company posted ($0.07) EPS. As a group, analysts predict that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SHEN shares. Wall Street Zen upgraded Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th. BWS Financial reiterated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Shenandoah Telecommunications by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider's stock valued at $5,732,000 after purchasing an additional 34,740 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Shenandoah Telecommunications during the fourth quarter valued at approximately $260,000. Amundi increased its position in shares of Shenandoah Telecommunications by 186.2% during the fourth quarter. Amundi now owns 23,706 shares of the utilities provider's stock valued at $298,000 after acquiring an additional 15,423 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Shenandoah Telecommunications by 40.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,402 shares of the utilities provider's stock worth $850,000 after buying an additional 19,380 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Shenandoah Telecommunications by 12.5% during the 4th quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider's stock worth $5,463,000 after acquiring an additional 48,233 shares during the period. Institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Company Profile

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.