Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Buys $336,671.88 in Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc purchased 28,268 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was purchased at an average price of $11.91 per share, for a total transaction of $336,671.88. Following the acquisition, the insider now owns 2,480,652 shares of the company's stock, valued at approximately $29,544,565.32. This represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large 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 stock was purchased 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 bought 32,000 shares of Shenandoah Telecommunications stock. The shares were acquired 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 purchased 20,045 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.30 per share, for a total transaction of $246,553.50.

Shenandoah Telecommunications Price Performance

NASDAQ SHEN traded down $0.08 on Monday, reaching $12.50. 363,124 shares of the company's stock traded hands, compared to its average volume of 249,380. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. Shenandoah Telecommunications has a 12 month low of $9.77 and a 12 month high of $21.89. The stock has a 50-day simple moving average of $12.27 and a 200 day simple moving average of $12.23. The stock has a market cap of $685.71 million, a PE ratio of 3.30 and a beta of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The firm had revenue of $87.90 million during the quarter, compared to the consensus estimate of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. During the same period last year, the business earned ($0.07) EPS. As a group, research analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SHEN shares. BWS Financial reiterated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Institutional Trading of Shenandoah Telecommunications

Several large investors have recently added to or reduced their stakes in SHEN. Capital Investment Advisory Services LLC bought a new stake in Shenandoah Telecommunications in the fourth quarter valued at $252,000. DAVENPORT & Co LLC boosted its stake 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 valued at $12,770,000 after purchasing an additional 140,314 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Shenandoah Telecommunications by 4.1% during the 4th quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider's stock valued at $1,892,000 after purchasing an additional 5,862 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Shenandoah Telecommunications by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider's stock valued at $2,807,000 after purchasing an additional 6,323 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in Shenandoah Telecommunications during the 4th quarter valued at approximately $2,379,000. 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.