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

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc acquired 13,000 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $13.19 per share, with a total value of $171,470.00. Following the completion of the acquisition, the insider now directly owns 2,655,737 shares of the company’s stock, valued at $35,029,171.03. The trade was a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, June 4th, Ecp Controlco, Llc bought 16,840 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost 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 stock was 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 purchased 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 Price Performance

NASDAQ:SHEN 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 company has a market capitalization 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 business’s 50-day moving average is $12.29 and its 200 day moving average is $12.24.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results 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 firm had revenue of $87.90 million during the quarter, compared to analysts’ expectations of $89.31 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, equities research analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Ancora Advisors LLC bought a new position in Shenandoah Telecommunications in the first quarter worth approximately $50,000. Smartleaf Asset Management LLC lifted its holdings in Shenandoah Telecommunications by 456.8% during 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. Acadian Asset Management LLC purchased a new stake in Shenandoah Telecommunications during the first quarter worth $76,000. New Age Alpha Advisors LLC purchased a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $90,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at $101,000. Institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

SHEN has been the subject of several recent research reports. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen raised 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.