Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Acquires 28,952 Shares

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 28,952 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was bought at an average price of $14.69 per share, with a total value of $425,304.88. Following the acquisition, the insider directly owned 2,851,104 shares in the company, valued at $41,882,717.76. This represents a 1.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at 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 Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc bought 22,402 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $326,845.18.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc acquired 21,137 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $15.28 per share, with a total value of $322,973.36.
• On Friday, July 11th, Ecp Fiber Holdings Gp, Llc acquired 8,000 shares of Shenandoah Telecommunications stock. The shares were 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 shares were acquired at an average cost of $14.67 per share, for a total transaction of $421,029.00.
• On Monday, July 7th, Ecp Fiber Holdings Gp, Llc acquired 15,314 shares of Shenandoah Telecommunications stock. The shares were purchased 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 acquired 6,000 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $13.73 per share, with a total value of $82,380.00.
• On Thursday, June 12th, Ecp Fiber Holdings Gp, Llc bought 11,100 shares of Shenandoah Telecommunications stock. The stock was 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 acquired 9,500 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc bought 14,184 shares of Shenandoah Telecommunications stock. The stock was purchased 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 bought 30,339 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $12.55 per share, for a total transaction of $380,754.45.

Shenandoah Telecommunications Stock Performance

Shares of SHEN stock traded up $0.41 during trading hours on Monday, hitting $15.14. 50,876 shares of the company were exchanged, compared to its average volume of 261,455. The firm has a fifty day simple moving average of $13.37 and a 200 day simple moving average of $12.47. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. Shenandoah Telecommunications Co has a 52-week low of $9.77 and a 52-week high of $21.89. The stock has a market capitalization of $830.80 million, a price-to-earnings ratio of -24.81 and a beta of 0.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative net margin of 10.07% and a negative return on equity of 3.18%. The business had revenue of $87.90 million during the quarter, compared to analysts' expectations of $89.31 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Research analysts predict that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SHEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Shenandoah Telecommunications by 4.0% during 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 during the last quarter. Nebula Research & Development LLC raised its position in Shenandoah Telecommunications by 5.5% in the 4th quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider's stock worth $278,000 after purchasing an additional 1,147 shares during the period. PAX Financial Group LLC raised its stake in shares of Shenandoah Telecommunications by 3.8% during the fourth quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 1,353 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Shenandoah Telecommunications by 11.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock valued at $173,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Shenandoah Telecommunications by 3.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 42,600 shares of the utilities provider's stock valued at $535,000 after acquiring an additional 1,500 shares during the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SHEN shares. BWS Financial reissued a "buy" rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th.

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.