Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Ecp Controlco, Llc Acquires 13,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc acquired 13,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average price of $13.19 per share, with a total value of $171,470.00. Following the transaction, the insider now owns 2,655,737 shares in the company, valued at $35,029,171.03. This represents a 0.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ecp Controlco, Llc also recently made the following trade(s):

• On Wednesday, June 4th, Ecp Controlco, Llc acquired 16,840 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.81 per share, with a total value of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.85 per share, with a total value of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc purchased 36,238 shares of Shenandoah Telecommunications stock. The stock was acquired at an average cost of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Up 2.0%

Shares of NASDAQ:SHEN opened at $13.50 on Friday. The stock’s 50-day moving average price is $12.28 and its two-hundred day moving average price is $12.24. 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 12-month low of $9.77 and a 12-month high of $21.89. The firm has a market cap of $740.57 million, a price-to-earnings ratio of 3.56 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued 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). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The business had revenue of $87.90 million during the quarter, compared to analyst estimates of $89.31 million. During the same period in the previous year, the business posted ($0.07) earnings per share. On average, research analysts forecast that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently modified their holdings of SHEN. Smartleaf Asset Management LLC raised its holdings in Shenandoah Telecommunications by 456.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after buying an additional 3,531 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Shenandoah Telecommunications by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock valued at $349,000 after buying an additional 1,061 shares during the period. Barclays PLC raised its holdings in Shenandoah Telecommunications by 6.6% in 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. Proficio Capital Partners LLC purchased a new position in Shenandoah Telecommunications in the fourth quarter valued at approximately $260,000. Finally, Rhumbline Advisers raised its holdings in Shenandoah Telecommunications by 4.1% in the fourth quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider’s stock valued at $1,892,000 after buying an additional 5,862 shares during the period. 61.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SHEN. BWS Financial reissued a “buy” rating and issued a $26.00 price target 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 research note on Thursday, May 8th.

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.