Shenandoah Telecommunications (NASDAQ:SHEN) Major Shareholder Ecp Fiber Holdings Gp, Llc Buys 28,268 Shares

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc bought 28,268 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was acquired at an average cost of $11.91 per share, for a total transaction of $336,671.88. Following the purchase, the insider now owns 2,480,652 shares in the company, valued at approximately $29,544,565.32. This trade represents a 1.15% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Ecp Fiber Holdings Gp, Llc also recently made the following trade(s):

• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc purchased 20,045 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $12.30 per share, with a total value of $246,553.50.

Shenandoah Telecommunications Trading Down 1.3%

SHEN opened at $12.42 on Friday. The firm’s 50 day moving average is $12.29 and its 200-day moving average is $12.24. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $681.32 million, a P/E ratio of 3.28 and a beta of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same period last year, the firm earned ($0.07) EPS. Analysts expect that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on SHEN shares. Wall Street Zen upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Thursday, May 8th. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

Institutional Trading of Shenandoah Telecommunications

Several large investors have recently modified their holdings of SHEN. Acadian Asset Management LLC acquired a new position in shares of Shenandoah Telecommunications in the first quarter worth about $76,000. Caxton Associates LLP purchased a new stake in Shenandoah Telecommunications during the 1st quarter worth approximately $194,000. Goldman Sachs Group Inc. increased its holdings in Shenandoah Telecommunications by 27.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock worth $6,700,000 after purchasing an additional 116,040 shares during the last quarter. Millennium Management LLC raised its position in shares of Shenandoah Telecommunications by 48.3% in the 1st 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Shenandoah Telecommunications by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock valued at $364,000 after purchasing an additional 1,248 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

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.