Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Purchases 13,541 Shares

Key Points

• Major shareholder Ecp Fiber Holdings Gp, Llc purchased $179,959.89 worth of Shenandoah Telecommunications stock, acquiring 13,541 shares at an average price of $13.29 each.
• The company's stock has a current market price of $13.56 and has fluctuated between a 12-month low of $9.77 and a high of $16.89.
• Shenandoah Telecommunications recently reported a negative earnings per share of ($0.19), beating estimates by $0.01, and is expected to post a further decline in earnings for the current year.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc bought 13,541 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was bought at an average price of $13.29 per share, with a total value of $179,959.89. Following the transaction, the insider directly owned 3,455,302 shares in the company, valued at $45,920,963.58. This represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% 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 Thursday, September 11th, Ecp Fiber Holdings Gp, Llc acquired 1,803 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $13.34 per share, with a total value of $24,052.02.
• On Monday, August 25th, Ecp Fiber Holdings Gp, Llc bought 1,500 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $13.10 per share, for a total transaction of $19,650.00.
• On Friday, August 22nd, Ecp Fiber Holdings Gp, Llc purchased 4,000 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $13.09 per share, for a total transaction of $52,360.00.
• On Tuesday, August 19th, Ecp Fiber Holdings Gp, Llc purchased 10,560 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $12.54 per share, for a total transaction of $132,422.40.
• On Monday, August 18th, Ecp Fiber Holdings Gp, Llc acquired 20,047 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.52 per share, with a total value of $250,988.44.
• On Wednesday, August 13th, Ecp Fiber Holdings Gp, Llc bought 1,473 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.87 per share, with a total value of $18,957.51.
• On Thursday, August 7th, Ecp Fiber Holdings Gp, Llc purchased 25,104 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $12.71 per share, for a total transaction of $319,071.84.
• On Wednesday, August 6th, Ecp Fiber Holdings Gp, Llc bought 22,085 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.01 per share, with a total value of $287,325.85.
• On Tuesday, August 5th, Ecp Fiber Holdings Gp, Llc purchased 26,117 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $13.12 per share, for a total transaction of $342,655.04.
• On Monday, August 4th, Ecp Fiber Holdings Gp, Llc purchased 23,703 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.00 per share, with a total value of $308,139.00.

Shenandoah Telecommunications Trading Up 1.3%

NASDAQ SHEN traded up $0.18 on Wednesday, hitting $14.13. 397,192 shares of the stock were exchanged, compared to its average volume of 304,404. The company's 50-day moving average price is $13.69 and its two-hundred day moving average price is $13.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73. Shenandoah Telecommunications Co has a 52-week low of $9.77 and a 52-week high of $16.89. The company has a market capitalization of $775.13 million, a price-to-earnings ratio of -25.23 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $88.57 million during the quarter, compared to analysts' expectations of $89.94 million. Shenandoah Telecommunications had a negative return on equity of 3.78% and a negative net margin of 8.90%. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. Research analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $26.00.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently bought and sold shares of the company. ECP ControlCo LLC boosted its stake in shares of Shenandoah Telecommunications by 10.7% in the 2nd quarter. ECP ControlCo LLC now owns 2,714,371 shares of the utilities provider's stock valued at $37,078,000 after purchasing an additional 261,987 shares during the last quarter. American Century Companies Inc. boosted its holdings in Shenandoah Telecommunications by 51.3% during the second quarter. American Century Companies Inc. now owns 739,551 shares of the utilities provider's stock worth $10,102,000 after purchasing an additional 250,901 shares during the last quarter. Invesco Ltd. increased its stake in Shenandoah Telecommunications by 103.7% in the 2nd quarter. Invesco Ltd. now owns 447,553 shares of the utilities provider's stock valued at $6,114,000 after buying an additional 227,789 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Shenandoah Telecommunications by 2,104.3% during the 1st quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider's stock worth $2,417,000 after buying an additional 183,536 shares in the last quarter. Finally, Millennium Management LLC grew its holdings 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 acquiring an additional 146,221 shares in the last quarter. Institutional investors 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.