Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Controlco, Llc Acquires 19,852 Shares

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 purchased 19,852 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were acquired 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. This trade represents a 0.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Wednesday, July 30th, Ecp Controlco, Llc purchased 17,303 shares of Shenandoah Telecommunications stock. The stock was acquired 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 shares were 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 purchased 16,467 shares of Shenandoah Telecommunications stock. The stock was bought 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 purchased at an average price of $14.89 per share, with a total value of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc bought 17,687 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $14.54 per share, with a total value of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock. The shares were purchased 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 stock was bought 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 purchased at an average price of $12.85 per share, for a total transaction of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Performance

NASDAQ SHEN traded down $0.12 on Thursday, reaching $14.68. 323,698 shares of the company's stock traded hands, compared to its average volume of 281,199. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a 50 day moving average price of $13.94 and a 200-day moving average price of $12.62. The firm has a market cap of $805.34 million, a price-to-earnings ratio of -24.07 and a beta of 0.89.

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 for the quarter, topping the consensus estimate of ($0.20) by $0.01. Shenandoah Telecommunications had a negative net margin of 10.07% and a negative return on equity of 3.18%. Equities research analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on SHEN shares. BWS Financial reissued 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 shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Institutional Trading of Shenandoah Telecommunications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ancora Advisors LLC purchased a new stake in shares of Shenandoah Telecommunications during the first quarter worth about $50,000. Acadian Asset Management LLC purchased a new stake in Shenandoah Telecommunications during the first quarter worth approximately $76,000. New Age Alpha Advisors LLC purchased a new stake in Shenandoah Telecommunications during the first quarter worth approximately $90,000. KLP Kapitalforvaltning AS acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter worth $101,000. Finally, Two Sigma Investments LP acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter worth $126,000. 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.

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