Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Ecp Controlco, Llc Acquires 26,623 Shares

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc bought 26,623 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average cost of $12.85 per share, with a total value of $342,105.55. Following the transaction, the insider now directly owns 2,625,897 shares in the company, valued at approximately $33,742,776.45. The trade was a 1.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 5th, Ecp Controlco, Llc purchased 13,000 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.19 per share, for a total transaction of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc acquired 16,840 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.81 per share, with a total value of $215,720.40.
• On Monday, June 2nd, Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ:SHEN traded up $0.27 during trading on Friday, reaching $13.50. 207,591 shares of the company's stock traded hands, compared to its average volume of 251,706. The stock has a market capitalization of $740.57 million, a P/E ratio of 3.56 and a beta of 0.87. Shenandoah Telecommunications has a 12 month low of $9.77 and a 12 month high of $21.89. The company has a 50 day moving average of $12.29 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 (NASDAQ:SHEN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. During the same period last year, the company posted ($0.07) earnings per share. On average, equities analysts expect that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Analysts Set New Price Targets

SHEN has been the subject of a number of research analyst reports. BWS Financial reiterated a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Shenandoah Telecommunications by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock worth $69,731,000 after buying an additional 68,133 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Shenandoah Telecommunications by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider's stock worth $6,841,000 after purchasing an additional 19,130 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Shenandoah Telecommunications by 27.8% during the 1st 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 in the last quarter. Northern Trust Corp lifted its stake in shares of Shenandoah Telecommunications by 1.3% in the 4th quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider's stock valued at $6,607,000 after purchasing an additional 6,904 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Shenandoah Telecommunications by 12.8% in the first quarter. American Century Companies Inc. now owns 488,650 shares of the utilities provider's stock worth $6,142,000 after buying an additional 55,432 shares during the last quarter. Institutional investors own 61.96% of the company's stock.

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.