Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Purchases 30,339 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Fiber Holdings Gp, Llc purchased 30,339 shares of Shenandoah Telecommunications stock in a transaction that occurred on Friday, May 30th. The shares were bought at an average price of $12.55 per share, with a total value of $380,754.45. Following the transaction, the insider now owns 2,563,036 shares in the company, valued at approximately $32,166,101.80. The trade was a 1.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major 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 Thursday, May 29th, Ecp Fiber Holdings Gp, Llc acquired 32,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $12.46 per share, for a total transaction of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc bought 20,045 shares of Shenandoah Telecommunications stock. The shares were purchased 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 purchased 28,268 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $11.91 per share, for a total transaction of $336,671.88.

Shenandoah Telecommunications Trading Up 2.0%

Shares of Shenandoah Telecommunications stock traded up $0.27 during mid-day trading on Friday, hitting $13.50. The stock had a trading volume of 207,591 shares, compared to its average volume of 250,697. The firm has a 50-day moving average of $12.28 and a two-hundred day moving average of $12.24. The firm has a market cap of $740.57 million, a P/E ratio of 3.56 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. Shenandoah Telecommunications has a 12-month low of $9.77 and a 12-month high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The company had revenue of $87.90 million for the quarter, compared to analysts' expectations 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. Sell-side analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently made changes to their positions in SHEN. Private Advisor Group LLC acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at $2,379,000. GAMMA Investing LLC lifted its position 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 worth $2,417,000 after purchasing an additional 183,536 shares in the last quarter. Millennium Management LLC boosted its stake 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 purchasing an additional 146,221 shares during the period. DAVENPORT & Co LLC grew its holdings in shares of Shenandoah Telecommunications by 16.1% in the fourth 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. Finally, Nuveen LLC purchased a new stake in Shenandoah Telecommunications during the 1st quarter worth approximately $1,710,000. Hedge funds and other institutional investors own 61.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SHEN shares. 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 price target on shares of Shenandoah Telecommunications in a research report 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.