Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Buys $356,400.00 in Stock

Key Points

• Ecp Controlco, LLC, a major shareholder of Shenandoah Telecommunications, recently purchased 30,000 shares at $11.88 each, increasing their total shares owned to 3,251,550, valued at approximately $38.6 million.
• Shenandoah Telecommunications reported a loss of $0.19 earnings per share for its last quarter, slightly beating analysts' expectations, with revenue of $88.57 million.
• Institutional investors now hold 61.96% of Shenandoah Telecommunications stock, with several firms increasing their positions significantly in recent months.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc acquired 30,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $11.88 per share, with a total value of $356,400.00. Following the transaction, the insider owned 3,251,550 shares of the company's stock, valued at approximately $38,628,414. The trade was a 0.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Ecp Controlco, Llc also recently made the following trade(s):

• On Friday, August 8th, Ecp Controlco, Llc bought 30,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.52 per share, for a total transaction of $375,600.00.
• On Wednesday, July 30th, Ecp Controlco, Llc bought 17,303 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.88 per share, for a total transaction of $257,468.64.
• On Tuesday, July 29th, Ecp Controlco, Llc bought 19,852 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.88 per share, for a total transaction of $295,397.76.
• On Tuesday, July 22nd, Ecp Controlco, Llc bought 17,583 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $15.40 per share, for a total transaction of $270,778.20.
• On Monday, July 21st, Ecp Controlco, Llc bought 16,467 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $15.02 per share, for a total transaction of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc acquired 16,943 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.89 per share, for a total transaction of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc acquired 17,687 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.54 per share, for a total transaction of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $13.19 per share, for a total transaction of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc acquired 16,840 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $12.81 per share, for a total transaction of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $12.85 per share, for a total transaction of $342,105.55.

Shenandoah Telecommunications Stock Performance

SHEN traded up $0.87 on Tuesday, hitting $12.75. 505,808 shares of the stock traded hands, compared to its average volume of 288,990. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $16.89. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $699.47 million, a PE ratio of -22.77 and a beta of 0.90. The business has a fifty day moving average price of $14.10 and a two-hundred day moving average price of $12.71.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. The company had revenue of $88.57 million for the quarter, compared to the consensus estimate 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, research analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHEN. Wall Street Zen lowered Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research note on Sunday. BWS Financial restated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st.

Institutional Investors Weigh In On Shenandoah Telecommunications

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Shenandoah Telecommunications by 75.4% during the first quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider's stock valued at $192,000 after purchasing an additional 6,573 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Shenandoah Telecommunications by 2.7% during the first quarter. Principal Financial Group Inc. now owns 228,612 shares of the utilities provider's stock valued at $2,874,000 after purchasing an additional 6,024 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Shenandoah Telecommunications by 32.8% during the first quarter. Private Advisor Group LLC now owns 250,471 shares of the utilities provider's stock valued at $3,148,000 after purchasing an additional 61,825 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Shenandoah Telecommunications in the 4th quarter worth approximately $126,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Shenandoah Telecommunications by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider's stock worth $349,000 after acquiring an additional 1,061 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

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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