Ecp Controlco, Llc Acquires 36,238 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN) major shareholder Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock in a transaction on Monday, June 2nd. The stock was acquired at an average cost of $12.58 per share, with a total value of $455,874.04. Following the acquisition, the insider now owns 2,599,274 shares in the company, valued at approximately $32,698,866.92. This represents a 1.41% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Thursday, June 5th, Ecp Controlco, Llc purchased 13,000 shares of Shenandoah Telecommunications stock. The shares were acquired at an average cost of $13.19 per share, for a total transaction of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc acquired 16,840 shares of Shenandoah Telecommunications stock. The stock was acquired at an average price of $12.81 per share, with a total value of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc bought 26,623 shares of Shenandoah Telecommunications stock. The shares were bought at an average price of $12.85 per share, for a total transaction of $342,105.55.

Shenandoah Telecommunications Stock Up 2.0%

Shenandoah Telecommunications stock opened at $13.50 on Friday. Shenandoah Telecommunications has a one year low of $9.77 and a one year high of $21.89. The stock has a fifty day moving average of $12.28 and a 200 day moving average of $12.24. 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 stock has a market cap of $740.57 million, a PE ratio of 3.56 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly 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). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The business had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same period in the previous year, the company earned ($0.07) EPS. As a group, sell-side analysts predict that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHEN. Ancora Advisors LLC purchased a new position in shares of Shenandoah Telecommunications during the 1st quarter worth $50,000. Smartleaf Asset Management LLC raised its holdings in Shenandoah Telecommunications by 456.8% in the 4th 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 during the period. Acadian Asset Management LLC purchased a new position in Shenandoah Telecommunications during the first quarter valued at $76,000. New Age Alpha Advisors LLC bought a new stake in Shenandoah Telecommunications during the first quarter valued at about $90,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Shenandoah Telecommunications during the fourth quarter valued at about $101,000. 61.96% of the stock is 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.