Shenandoah Telecommunications Co (NASDAQ:SHEN) Major Shareholder Ecp Controlco, Llc Buys 19,852 Shares

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc purchased 19,852 shares of Shenandoah Telecommunications stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $14.88 per share, for a total transaction of $295,397.76. Following the transaction, the insider directly owned 3,024,391 shares of the company's stock, valued at $45,002,938.08. This represents a 0.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 30th, Ecp Controlco, Llc acquired 17,303 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $14.88 per share, with a total value of $257,468.64.
• On Tuesday, July 22nd, Ecp Controlco, Llc bought 17,583 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $15.40 per share, for a total transaction of $270,778.20.
• On Monday, July 21st, Ecp Controlco, Llc purchased 16,467 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $15.02 per share, with a total value of $247,334.34.
• On Thursday, July 10th, Ecp Controlco, Llc acquired 16,943 shares of Shenandoah Telecommunications stock. The shares were purchased at an average cost of $14.89 per share, with a total value of $252,281.27.
• On Wednesday, July 9th, Ecp Controlco, Llc bought 17,687 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $14.54 per share, for a total transaction of $257,168.98.
• On Thursday, June 5th, Ecp Controlco, Llc bought 13,000 shares of Shenandoah Telecommunications stock. The stock was purchased at an average price of $13.19 per share, with a total value of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc purchased 16,840 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $12.81 per share, for a total transaction of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc acquired 26,623 shares of Shenandoah Telecommunications stock. The shares were purchased at an average price of $12.85 per share, with a total value of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $12.58 per share, with a total value of $455,874.04.

Shenandoah Telecommunications Trading Down 0.8%

Shares of Shenandoah Telecommunications stock opened at $14.68 on Friday. The firm's 50 day moving average is $14.01 and its 200 day moving average is $12.64. The firm has a market capitalization of $805.34 million, a PE ratio of -24.07 and a beta of 0.89. Shenandoah Telecommunications Co has a 1 year low of $9.77 and a 1 year high of $21.89. 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 issued its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. The firm had revenue of $88.57 million for the quarter, compared to analyst estimates of $89.94 million. Shenandoah Telecommunications had a negative net margin of 10.07% and a negative return on equity of 3.18%. Equities research analysts forecast that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several hedge funds have recently modified their holdings of the company. Ancora Advisors LLC acquired a new position in Shenandoah Telecommunications in the 1st quarter worth about $50,000. Acadian Asset Management LLC acquired a new position in shares of Shenandoah Telecommunications in the first quarter valued at approximately $76,000. New Age Alpha Advisors LLC bought a new position in Shenandoah Telecommunications in the 1st quarter valued at approximately $90,000. KLP Kapitalforvaltning AS acquired a new stake in Shenandoah Telecommunications during the 4th quarter worth approximately $101,000. Finally, Two Sigma Investments LP bought a new stake in Shenandoah Telecommunications during the 4th quarter worth approximately $126,000. Institutional investors and hedge funds own 61.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th. BWS Financial reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st.

View Our Latest Research Report on SHEN

About Shenandoah Telecommunications

(Get Free Report)

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.

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