Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Up 6% on Insider Buying Activity

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report)'s share price traded up 6% on Monday following insider buying activity. The stock traded as high as $15.84 and last traded at $15.67. 64,993 shares were traded during mid-day trading, a decline of 75% from the average session volume of 257,438 shares. The stock had previously closed at $14.78.

Specifically, major shareholder Ecp Controlco, Llc purchased 16,943 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were bought at an average price of $14.89 per share, with a total value of $252,281.27. Following the acquisition, the insider owned 2,793,015 shares of the company's stock, valued at $41,587,993.35. This trade represents a 0.61% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ecp Controlco, Llc bought 17,687 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was purchased at an average cost of $14.54 per share, with a total value of $257,168.98. Following the completion of the transaction, the insider directly owned 2,776,072 shares of the company's stock, valued at approximately $40,364,086.88. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other Shenandoah Telecommunications news, major shareholder Ecp Fiber Holdings Gp, Llc bought 28,700 shares of Shenandoah Telecommunications stock in a transaction dated Tuesday, July 8th. The stock was purchased at an average price of $14.67 per share, for a total transaction of $421,029.00. Following the completion of the purchase, the insider directly owned 2,758,385 shares of the company's stock, valued at approximately $40,465,507.95. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BWS Financial reiterated a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen raised Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Shenandoah Telecommunications Stock Up 1.1%

The stock has a fifty day simple moving average of $13.19 and a two-hundred day simple moving average of $12.43. The firm has a market cap of $799.86 million, a PE ratio of -23.90 and a beta of 0.89. 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 released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) 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 net margin of 10.07% and a negative return on equity of 3.18%. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, sell-side analysts expect that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Shenandoah Telecommunications by 75.4% in the first quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider's stock valued at $192,000 after acquiring an additional 6,573 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Shenandoah Telecommunications by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider's stock worth $349,000 after acquiring an additional 1,061 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Shenandoah Telecommunications in the 4th quarter worth approximately $126,000. Barclays PLC boosted its position in Shenandoah Telecommunications by 6.6% during the fourth quarter. Barclays PLC now owns 85,404 shares of the utilities provider's stock valued at $1,078,000 after buying an additional 5,253 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Shenandoah Telecommunications by 12.5% in the fourth quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider's stock worth $5,463,000 after buying an additional 48,233 shares during the period. Institutional investors own 61.96% of the company's stock.

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.