Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Acquires $287,325.85 in Stock

Key Points

• Ecp Fiber Holdings Gp, Llc, a major shareholder of Shenandoah Telecommunications, purchased a total of 22,085 shares at an average cost of $13.01 each, totaling approximately $287,325.
• Shenandoah Telecommunications reported a loss of ($0.19) EPS for the last quarter, surpassing analysts' expectations by $0.01, while revenue was $88.57 million, slightly below estimates.
• The company's stock price decreased to $12.17, down by $0.56 in midday trading, with a market capitalization of $667.61 million.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc purchased 22,085 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $13.01 per share, for a total transaction of $287,325.85. Following the acquisition, the insider owned 3,166,446 shares in the company, valued at $41,195,462.46. This trade represents a 0.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 Thursday, August 7th, Ecp Fiber Holdings Gp, Llc acquired 25,104 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $12.71 per share, for a total transaction of $319,071.84.
• On Tuesday, August 5th, Ecp Fiber Holdings Gp, Llc bought 26,117 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $13.12 per share, for a total transaction of $342,655.04.
• On Monday, August 4th, Ecp Fiber Holdings Gp, Llc bought 23,703 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $13.00 per share, for a total transaction of $308,139.00.
• On Friday, August 1st, Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $13.48 per share, with a total value of $404,400.00.
• On Thursday, July 31st, Ecp Fiber Holdings Gp, Llc purchased 22,847 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.74 per share, for a total transaction of $336,764.78.
• On Monday, July 28th, Ecp Fiber Holdings Gp, Llc acquired 11,934 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $15.06 per share, with a total value of $179,726.04.
• On Friday, July 25th, Ecp Fiber Holdings Gp, Llc bought 10,264 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $15.22 per share, with a total value of $156,218.08.
• On Thursday, July 24th, Ecp Fiber Holdings Gp, Llc bought 8,980 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $15.52 per share, with a total value of $139,369.60.
• On Wednesday, July 23rd, Ecp Fiber Holdings Gp, Llc acquired 15,801 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $15.64 per share, with a total value of $247,127.64.
• On Friday, July 18th, Ecp Fiber Holdings Gp, Llc bought 20,004 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $14.83 per share, with a total value of $296,659.32.

Shenandoah Telecommunications Stock Up 2.1%

Shenandoah Telecommunications stock traded up $0.27 during midday trading on Wednesday, hitting $13.02. 78,151 shares of the company were exchanged, compared to its average volume of 287,427. The company's fifty day moving average price is $14.09 and its 200-day moving average price is $12.71. The company has a market cap of $714.28 million, a PE ratio of -23.30 and a beta of 0.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $16.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The firm had revenue of $88.57 million for the quarter, compared to analyst estimates 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.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Shenandoah Telecommunications by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock worth $69,731,000 after purchasing an additional 68,133 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Shenandoah Telecommunications by 8.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,248,255 shares of the utilities provider's stock valued at $17,053,000 after acquiring an additional 93,340 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Shenandoah Telecommunications by 51.3% in the 2nd quarter. American Century Companies Inc. now owns 739,551 shares of the utilities provider's stock valued at $10,102,000 after acquiring an additional 250,901 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Shenandoah Telecommunications by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider's stock valued at $6,841,000 after acquiring an additional 19,130 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings 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 acquiring an additional 116,040 shares during the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHEN has been the subject of several research analyst reports. BWS Financial reissued 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 lowered Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research note on Sunday.

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.