Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Acquires 9,500 Shares

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc bought 9,500 shares of the firm's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $13.75 per share, with a total value of $130,625.00. Following the completion of the transaction, the insider now owns 2,679,421 shares in the company, valued at $36,842,038.75. This represents a 0.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% 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, June 6th, Ecp Fiber Holdings Gp, Llc acquired 14,184 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.42 per share, with a total value of $190,349.28.
• On Friday, May 30th, Ecp Fiber Holdings Gp, Llc acquired 30,339 shares of Shenandoah Telecommunications stock. The stock was acquired 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 purchased 32,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $12.46 per share, with a total value of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc acquired 20,045 shares of Shenandoah Telecommunications stock. The shares were acquired 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 shares were acquired at an average cost of $11.91 per share, for a total transaction of $336,671.88.

Shenandoah Telecommunications Stock Down 1.7%

Shares of NASDAQ:SHEN traded down $0.24 during trading on Friday, reaching $13.64. The stock had a trading volume of 32,872 shares, compared to its average volume of 270,900. The firm's 50-day simple moving average is $12.39 and its 200 day simple moving average is $12.27. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. Shenandoah Telecommunications has a one year low of $9.77 and a one year high of $21.89. The company has a market capitalization of $748.25 million, a P/E ratio of 3.61 and a beta of 0.87.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $89.31 million. During the same period in the previous year, the company earned ($0.07) EPS. As a group, research analysts expect that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHEN has been the topic of several recent research reports. 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 set a $26.00 price objective 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 added to or reduced their stakes in SHEN. Private Advisor Group LLC purchased a new stake in Shenandoah Telecommunications in the fourth quarter valued at about $2,379,000. GAMMA Investing LLC increased its holdings in shares of Shenandoah Telecommunications by 2,104.3% during the first quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider's stock valued at $2,417,000 after acquiring an additional 183,536 shares in the last quarter. Millennium Management LLC raised its position in shares of Shenandoah Telecommunications by 48.3% in the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider's stock valued at $5,644,000 after purchasing an additional 146,221 shares during the last quarter. Nuveen LLC purchased a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at approximately $1,710,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Shenandoah Telecommunications by 27.8% in 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 last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

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.