Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Purchases $404,400.00 in Stock

Key Points

• Ecp Fiber Holdings Gp, Llc, a major shareholder, purchased 30,000 shares of Shenandoah Telecommunications stock for a total of $404,400, reflecting a 0.98% increase in their ownership.
• Shenandoah Telecommunications reported a quarterly loss of ($0.19) EPS, slightly beating analysts' expectations, though with a negative net margin of 8.90%.
• Shares of Shenandoah Telecommunications traded down 2.5% to $12.91, with a 52-week trading range between $9.77 and $18.84.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $13.48 per share, with a total value of $404,400.00. Following the transaction, the insider owned 3,094,541 shares in the company, valued at approximately $41,714,412.68. This trade represents a 0.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Ecp Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Thursday, July 31st, Ecp Fiber Holdings Gp, Llc bought 22,847 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.74 per share, with a total value of $336,764.78.
• On Monday, July 28th, Ecp Fiber Holdings Gp, Llc acquired 11,934 shares of Shenandoah Telecommunications stock. The stock was 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 shares were bought at an average cost of $15.22 per share, for a total transaction 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, for a total transaction of $139,369.60.
• On Wednesday, July 23rd, Ecp Fiber Holdings Gp, Llc acquired 15,801 shares of Shenandoah Telecommunications stock. The shares were purchased 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 acquired 20,004 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $14.83 per share, with a total value of $296,659.32.
• On Thursday, July 17th, Ecp Fiber Holdings Gp, Llc bought 30,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.62 per share, for a total transaction of $438,600.00.
• On Wednesday, July 16th, Ecp Fiber Holdings Gp, Llc acquired 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 Tuesday, July 15th, Ecp Fiber Holdings Gp, Llc bought 28,952 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $14.69 per share, for a total transaction of $425,304.88.
• On Monday, July 14th, Ecp Fiber Holdings Gp, Llc bought 21,137 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $15.28 per share, with a total value of $322,973.36.

Shenandoah Telecommunications Trading Down 2.5%

Shenandoah Telecommunications stock traded down $0.33 during mid-day trading on Monday, reaching $12.91. 400,532 shares of the company traded hands, compared to its average volume of 284,066. Shenandoah Telecommunications Co has a 52-week low of $9.77 and a 52-week high of $18.84. The firm has a market capitalization of $708.24 million, a price-to-earnings ratio of -23.05 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. The firm's 50 day moving average price is $14.05 and its 200 day moving average price is $12.67.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, beating 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 analysts' expectations of $89.94 million. On average, analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several institutional investors have recently made changes to their positions in SHEN. KLP Kapitalforvaltning AS purchased a new stake in Shenandoah Telecommunications during the 4th quarter valued at approximately $101,000. LPL Financial LLC grew its holdings in Shenandoah Telecommunications by 5.9% during the 4th quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider's stock valued at $485,000 after buying an additional 2,143 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $69,731,000 after buying an additional 68,133 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Shenandoah Telecommunications by 42.5% during the 4th quarter. JPMorgan Chase & Co. now owns 219,276 shares of the utilities provider's stock valued at $2,765,000 after buying an additional 65,426 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Shenandoah Telecommunications by 66.7% during the 4th quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider's stock valued at $3,025,000 after buying an additional 96,006 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BWS Financial reiterated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a research note on Saturday.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.