Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Purchases 32,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 32,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $12.46 per share, with a total value of $398,720.00. Following the transaction, the insider now directly owns 2,532,697 shares of the company's stock, valued at $31,557,404.62. This trade represents a 1.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc bought 30,339 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.55 per share, with a total value of $380,754.45.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc bought 20,045 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $12.30 per share, with a total value of $246,553.50.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc bought 28,268 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $11.91 per share, with a total value of $336,671.88.

Shenandoah Telecommunications Trading Up 1.6%

Shares of Shenandoah Telecommunications stock traded up $0.21 on Thursday, hitting $13.07. The stock had a trading volume of 11,067 shares, compared to its average volume of 249,578. The stock has a 50 day moving average of $12.26 and a 200 day moving average of $12.24. Shenandoah Telecommunications has a twelve month low of $9.77 and a twelve month high of $21.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82. The firm has a market capitalization of $716.98 million, a P/E ratio of 3.43 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on SHEN. Wall Street Zen raised Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th. BWS Financial reissued a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $69,731,000 after buying an additional 68,133 shares during the period. DAVENPORT & Co LLC increased its position in Shenandoah Telecommunications by 16.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider's stock valued at $12,770,000 after purchasing an additional 140,314 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 valued at $6,841,000 after purchasing an additional 19,130 shares during the period. Goldman Sachs Group Inc. increased its position in 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 during the period. Finally, Northern Trust Corp increased its position in Shenandoah Telecommunications by 1.3% during 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 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.