Ecp Fiber Holdings Gp, Llc Purchases 30,339 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Fiber Holdings Gp, Llc purchased 30,339 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was bought at an average cost of $12.55 per share, for a total transaction of $380,754.45. Following the completion of the transaction, the insider now owns 2,563,036 shares in the company, valued at approximately $32,166,101.80. This represents a 1.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, May 29th, Ecp Fiber Holdings Gp, Llc purchased 32,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average cost of $12.46 per share, for a total transaction of $398,720.00.
• On Wednesday, May 28th, Ecp Fiber Holdings Gp, Llc bought 20,045 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $12.30 per share, for a total transaction of $246,553.50.
• On Tuesday, May 27th, Ecp Fiber Holdings Gp, Llc bought 28,268 shares of Shenandoah Telecommunications stock. The shares were acquired at an average price of $11.91 per share, for a total transaction of $336,671.88.

Shenandoah Telecommunications Stock Performance

Shares of SHEN opened at $12.92 on Wednesday. The business’s fifty day simple moving average is $12.26 and its two-hundred day simple moving average is $12.23. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. Shenandoah Telecommunications has a 12 month low of $9.77 and a 12 month high of $21.89. The company has a market cap of $708.75 million, a price-to-earnings ratio of 3.41 and a beta of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The business had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $89.31 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Research analysts anticipate that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHEN has been the topic of several recent analyst reports. 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 research note on Thursday, May 1st.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 valued at $349,000 after buying an additional 1,061 shares during the period. Nebula Research & Development LLC increased its position in shares of Shenandoah Telecommunications by 5.5% during the 4th quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 1,147 shares during the last quarter. PAX Financial Group LLC lifted its stake in shares of Shenandoah Telecommunications by 3.8% in the 4th quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider’s stock worth $468,000 after purchasing an additional 1,353 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Shenandoah Telecommunications by 11.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider’s stock worth $173,000 after buying an additional 1,380 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Shenandoah Telecommunications by 3.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 42,600 shares of the utilities provider’s stock worth $535,000 after buying an additional 1,500 shares during the last quarter. 61.96% of the stock is owned by 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.