Insider Buying: Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Acquires 13,000 Shares of Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc purchased 13,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $13.19 per share, for a total transaction of $171,470.00. Following the completion of the transaction, the insider now directly 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 document filed with the SEC, which is available through this link. Large 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 acquired 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 acquired at an average price of $12.85 per share, for a total transaction of $342,105.55.
• On Monday, June 2nd, Ecp Controlco, Llc acquired 36,238 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Stock Performance

SHEN stock opened at $13.50 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. The firm has a market cap of $740.57 million, a P/E ratio of 3.56 and a beta of 0.87. Shenandoah Telecommunications has a 12-month low of $9.77 and a 12-month high of $21.89. The stock’s 50 day simple moving average is $12.28 and its 200 day simple moving average is $12.24.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued 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). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. As a group, equities research analysts predict that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in shares of Shenandoah Telecommunications by 456.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,531 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $349,000 after purchasing an additional 1,061 shares in the last quarter. Barclays PLC grew its stake in shares of Shenandoah Telecommunications by 6.6% in the fourth quarter. Barclays PLC now owns 85,404 shares of the utilities provider’s stock worth $1,078,000 after purchasing an additional 5,253 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Shenandoah Telecommunications in the fourth quarter worth $260,000. Finally, Rhumbline Advisers grew its stake in shares of Shenandoah Telecommunications by 4.1% in the fourth quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider’s stock worth $1,892,000 after purchasing an additional 5,862 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SHEN shares. BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen upgraded Shenandoah Telecommunications to a “sell” rating in a report on Thursday, May 8th.

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.