Ecp Controlco, Llc Buys 26,623 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc acquired 26,623 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were bought at an average price of $12.85 per share, for a total transaction of $342,105.55. Following the completion of the transaction, the insider now owns 2,625,897 shares of the company’s stock, valued at approximately $33,742,776.45. This trade represents a 1.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, June 2nd, Ecp Controlco, Llc acquired 36,238 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.58 per share, for a total transaction of $455,874.04.

Shenandoah Telecommunications Trading Up 2.9%

Shares of NASDAQ SHEN opened at $13.23 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82. The business’s 50 day moving average price is $12.26 and its 200-day moving average price is $12.24. Shenandoah Telecommunications has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The company has a market cap of $725.76 million, a price-to-earnings ratio of 3.49 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 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 business had revenue of $87.90 million during the quarter, compared to analysts’ expectations of $89.31 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. On average, sell-side analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Analyst Ratings Changes

SHEN has been the topic of a number of recent research reports. BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen upgraded Shenandoah Telecommunications to a “sell” rating in a report on Thursday, May 8th.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its holdings 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 buying an additional 3,531 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Shenandoah Telecommunications by 4.0% during the 4th 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 during the period. Barclays PLC increased its holdings in Shenandoah Telecommunications by 6.6% during the 4th 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 during the period. Proficio Capital Partners LLC purchased a new position in Shenandoah Telecommunications during the 4th quarter worth $260,000. Finally, Rhumbline Advisers increased its holdings in Shenandoah Telecommunications by 4.1% during the 4th 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 during the period. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

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.