Insider Buying: Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Buys 6,000 Shares of Stock

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc acquired 6,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was acquired at an average cost of $13.73 per share, with a total value of $82,380.00. Following the completion of the acquisition, the insider now directly owns 2,714,371 shares in the company, valued at approximately $37,268,313.83. This represents a 0.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 12th, Ecp Fiber Holdings Gp, Llc purchased 11,100 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $13.85 per share, for a total transaction of $153,735.00.
• On Monday, June 9th, Ecp Fiber Holdings Gp, Llc acquired 9,500 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $13.75 per share, for a total transaction of $130,625.00.
• On Friday, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $13.42 per share, for a total transaction of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc purchased 30,339 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $12.55 per share, with a total value of $380,754.45.
• On Thursday, May 29th, Ecp Fiber Holdings Gp, Llc acquired 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 Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc acquired 20,045 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $12.30 per share, for a total transaction of $246,553.50.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc acquired 28,268 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $11.91 per share, with a total value of $336,671.88.

Shenandoah Telecommunications Stock Up 1.9%

Shares of NASDAQ SHEN traded up $0.26 during midday trading on Thursday, reaching $14.15. The company's stock had a trading volume of 272,711 shares, compared to its average volume of 252,781. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The stock has a 50 day simple moving average of $12.51 and a 200-day simple moving average of $12.29. The stock has a market capitalization of $776.27 million, a price-to-earnings ratio of -23.20 and a beta of 0.87. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. The business had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. During the same quarter in the previous year, the business posted ($0.07) EPS. Equities research analysts predict that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC bought a new stake in Shenandoah Telecommunications during the first quarter worth $50,000. Smartleaf Asset Management LLC lifted its holdings in shares of Shenandoah Telecommunications by 456.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider's stock worth $53,000 after purchasing an additional 3,531 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at about $76,000. New Age Alpha Advisors LLC acquired a new stake in Shenandoah Telecommunications during the 1st quarter valued at approximately $90,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at $101,000. Institutional investors and hedge funds own 61.96% of the company's stock.

Analyst Upgrades and Downgrades

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

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.