Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Acquires $171,470.00 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $13.19 per share, with a total value of $171,470.00. Following the completion of the transaction, the insider now directly owns 2,655,737 shares in the company, valued at $35,029,171.03. This represents a 0.49% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 4th, Ecp Controlco, Llc bought 16,840 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $12.81 per share, for a total transaction 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 price of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Performance

Shares of Shenandoah Telecommunications stock traded up $0.27 on Friday, reaching $13.50. 207,591 shares of the company traded hands, compared to its average volume of 250,697. The company has a 50 day moving average of $12.28 and a 200 day moving average of $12.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week high of $21.89. The firm has a market capitalization of $740.57 million, a PE ratio of 3.56 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The firm had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. During the same period last year, the company posted ($0.07) earnings per share. Equities analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHEN. BWS Financial reaffirmed 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 upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research report on Thursday, May 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Shenandoah Telecommunications in the 4th quarter valued at about $2,379,000. GAMMA Investing LLC boosted its position in Shenandoah Telecommunications by 2,104.3% during the first quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider's stock worth $2,417,000 after purchasing an additional 183,536 shares during the period. Millennium Management LLC increased its stake in shares of Shenandoah Telecommunications by 48.3% in the first quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider's stock worth $5,644,000 after purchasing an additional 146,221 shares in the last quarter. Nuveen LLC bought a new stake in shares of Shenandoah Telecommunications in the first quarter valued at approximately $1,710,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Shenandoah Telecommunications by 27.8% in the first 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 during the period. Institutional investors own 61.96% of the company's stock.

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.

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