Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Buys $159,000.00 in Stock

Key Points

• Ecp Controlco, LLC, a major shareholder, recently purchased 12,000 shares of Shenandoah Telecommunications at an average price of $13.25 per share, totaling $159,000.
• Shenandoah Telecommunications reported a negative earnings per share of ($0.19) for the last quarter, which beat analysts' expectations of ($0.20).
• Shares of Shenandoah Telecommunications have seen trading down 2.3%, hitting $12.95, with a market capitalization of $710.40 million.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc purchased 12,000 shares of the company's stock in a transaction dated Friday, August 29th. The stock was acquired at an average price of $13.25 per share, with a total value of $159,000.00. Following the completion of the transaction, the insider owned 3,377,233 shares of the company's stock, valued at $44,748,337.25. This represents a 0.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Thursday, August 28th, Ecp Controlco, Llc bought 14,358 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.26 per share, for a total transaction of $190,387.08.
• On Thursday, August 28th, Ecp Controlco, Llc bought 14,358 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.26 per share, for a total transaction of $190,387.08.
• On Monday, August 11th, Ecp Controlco, Llc purchased 30,000 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $11.88 per share, for a total transaction of $356,400.00.
• On Friday, August 8th, Ecp Controlco, Llc acquired 30,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.52 per share, for a total transaction of $375,600.00.
• On Wednesday, July 30th, Ecp Controlco, Llc bought 17,303 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.88 per share, for a total transaction of $257,468.64.
• On Tuesday, July 29th, Ecp Controlco, Llc bought 19,852 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $14.88 per share, for a total transaction of $295,397.76.
• On Tuesday, July 22nd, Ecp Controlco, Llc purchased 17,583 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $15.40 per share, with a total value of $270,778.20.
• On Monday, July 21st, Ecp Controlco, Llc purchased 16,467 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $15.02 per share, with a total value of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc acquired 16,943 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $14.89 per share, with a total value of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc acquired 17,687 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $14.54 per share, with a total value of $257,168.98.

Shenandoah Telecommunications Trading Down 2.3%

Shares of NASDAQ:SHEN traded down $0.30 during midday trading on Tuesday, hitting $12.95. 413,135 shares of the stock traded hands, compared to its average volume of 290,363. The stock has a market capitalization of $710.40 million, a PE ratio of -23.12 and a beta of 0.87. The business's 50 day moving average is $13.86 and its two-hundred day moving average is $12.88. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. Shenandoah Telecommunications Co has a one year low of $9.77 and a one year high of $16.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share (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 the consensus estimate of $89.94 million. Shenandoah Telecommunications had a negative net margin of 8.90% and a negative return on equity of 3.78%. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently modified their holdings of the business. Ancora Advisors LLC purchased a new stake in Shenandoah Telecommunications during the first quarter valued at approximately $50,000. State of Wyoming acquired a new position in Shenandoah Telecommunications during the second quarter worth about $65,000. Tower Research Capital LLC TRC raised its stake in Shenandoah Telecommunications by 80.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider's stock worth $68,000 after purchasing an additional 2,228 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Shenandoah Telecommunications in the 2nd quarter valued at approximately $76,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at approximately $76,000. Institutional investors own 61.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $26.00.

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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