Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Buys $342,105.55 in Stock

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 price of $12.85 per share, for a total transaction of $342,105.55. Following the transaction, the insider now owns 2,625,897 shares of the company's stock, valued at approximately $33,742,776.45. This trade represents a 1.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Monday, June 2nd, Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Up 1.2%

Shares of NASDAQ:SHEN traded up $0.16 during trading on Friday, hitting $13.39. 70,153 shares of the company were exchanged, compared to its average volume of 250,160. The stock has a market capitalization of $734.64 million, a P/E ratio of 3.53 and a beta of 0.87. 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 12-month low of $9.77 and a 12-month high of $21.89. The firm's 50 day moving average price is $12.28 and its 200-day moving average price is $12.24.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The company had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. During the same period in the prior year, the business earned ($0.07) EPS. On average, research analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SHEN shares. Wall Street Zen raised Shenandoah Telecommunications to a "sell" rating in a research report on Thursday, May 8th. BWS Financial restated a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

Institutional Trading of Shenandoah Telecommunications

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in Shenandoah Telecommunications in the first quarter valued at about $76,000. Caxton Associates LLP acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at approximately $194,000. Goldman Sachs Group Inc. boosted its stake 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 buying an additional 116,040 shares in the last quarter. Millennium Management LLC boosted 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 valued at $5,644,000 after buying an additional 146,221 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Shenandoah Telecommunications by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider's stock worth $364,000 after acquiring an additional 1,248 shares during the period. Institutional investors and hedge funds 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.