Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Purchases $246,553.50 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc bought 20,045 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were acquired at an average price of $12.30 per share, for a total transaction of $246,553.50. Following the completion of the transaction, the insider now owns 2,500,697 shares in the company, valued at approximately $30,758,573.10. This trade represents a 0.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

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

• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc acquired 30,339 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $12.55 per share, for a total transaction of $380,754.45.
• On Thursday, May 29th, Ecp Fiber Holdings Gp, Llc purchased 32,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $12.46 per share, for a total transaction of $398,720.00.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc purchased 28,268 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $11.91 per share, for a total transaction of $336,671.88.

Shenandoah Telecommunications Stock Performance

Shares of SHEN stock traded down $0.08 during trading on Monday, reaching $12.50. 363,124 shares of the company's stock were exchanged, compared to its average volume of 249,380. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $685.71 million, a PE ratio of 3.30 and a beta of 0.82. Shenandoah Telecommunications has a twelve month low of $9.77 and a twelve month high of $21.89. The firm's fifty day moving average price is $12.27 and its 200-day moving average price is $12.23.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) EPS 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 company had revenue of $87.90 million during the quarter, compared to analyst estimates of $89.31 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. As a group, sell-side analysts anticipate that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several institutional investors and hedge funds have recently modified their holdings of SHEN. Smartleaf Asset Management LLC grew its holdings in Shenandoah Telecommunications by 456.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider's stock valued at $53,000 after buying an additional 3,531 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Shenandoah Telecommunications by 16.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider's stock worth $12,770,000 after acquiring an additional 140,314 shares in the last quarter. Barclays PLC boosted its stake in Shenandoah Telecommunications by 6.6% in the fourth quarter. Barclays PLC now owns 85,404 shares of the utilities provider's stock valued at $1,078,000 after buying an additional 5,253 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at approximately $260,000. Finally, Rhumbline Advisers boosted its position in Shenandoah Telecommunications by 4.1% in the fourth quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider's stock valued at $1,892,000 after buying an additional 5,862 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.