Ecp Controlco, Llc Purchases 19,852 Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) Stock

Key Points

• Ecp Controlco, LLC, the major shareholder of Shenandoah Telecommunications, acquired 19,852 shares at an average price of $14.88, increasing their total holding to approximately 3 million shares valued at $45 million.
• Shenandoah Telecommunications reported a loss of $0.19 per share in its last earnings announcement, exceeding analysts' expectations of a loss of $0.20 per share.
• The company's stock recently traded at $14.68, with a market capitalization of about $805 million and a price-to-earnings ratio of -24.07.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc acquired 19,852 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $14.88 per share, with a total value of $295,397.76. Following the completion of the acquisition, the insider owned 3,024,391 shares in the company, valued at approximately $45,002,938.08. The trade was a 0.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 30th, Ecp Controlco, Llc bought 17,303 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.88 per share, for a total transaction of $257,468.64.
• On Tuesday, July 22nd, Ecp Controlco, Llc bought 17,583 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost 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 stock was purchased at an average cost of $15.02 per share, for a total transaction of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc purchased 16,943 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $14.89 per share, with a total value of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc purchased 17,687 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $14.54 per share, with a total value of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc purchased 13,000 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $13.19 per share, with a total value of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc purchased 16,840 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.81 per share, with a total value of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc purchased 26,623 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.85 per share, with a total value of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc purchased 36,238 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.58 per share, with a total value of $455,874.04.

Shenandoah Telecommunications Stock Down 1.5%

SHEN stock traded down $0.20 during trading on Monday, reaching $13.05. The stock had a trading volume of 101,257 shares, compared to its average volume of 281,912. Shenandoah Telecommunications Co has a 1-year low of $9.77 and a 1-year high of $18.84. 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 company has a market capitalization of $715.70 million, a P/E ratio of -23.30 and a beta of 0.90. The firm has a fifty day moving average price of $14.05 and a 200 day moving average price of $12.67.

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

Analysts Set New Price Targets

SHEN has been the topic of a number of recent analyst reports. BWS Financial reiterated a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a report on Saturday.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently modified their holdings of the stock. AlphaQuest LLC raised its stake in shares of Shenandoah Telecommunications by 116.6% in the 2nd quarter. AlphaQuest LLC now owns 13,853 shares of the utilities provider's stock valued at $189,000 after purchasing an additional 7,457 shares in the last quarter. Defined Financial Planning LLC acquired a new stake in shares of Shenandoah Telecommunications in the 2nd quarter valued at about $444,000. State of Alaska Department of Revenue raised its stake in shares of 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 valued at $374,000 after purchasing an additional 2,000 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Shenandoah Telecommunications by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider's stock valued at $6,700,000 after purchasing an additional 116,040 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at about $76,000. Institutional investors and hedge funds 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.