Joseph E. Jr. Mccourt Sells 2,000 Shares of Lumos Networks Corp. (LMOS) Stock
Lumos Networks Corp. (NASDAQ:LMOS) EVP Joseph E. Jr. Mccourt sold 2,000 shares of Lumos Networks Corp. stock in a transaction on Friday, November 18th. The stock was sold at an average price of $14.17, for a total value of $28,340.00. Following the sale, the executive vice president now directly owns 47,887 shares of the company’s stock, valued at approximately $678,558.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Lumos Networks Corp. (NASDAQ:LMOS) traded up 0.56% during mid-day trading on Friday, reaching $14.33. The company had a trading volume of 131,261 shares. Lumos Networks Corp. has a 12-month low of $10.18 and a 12-month high of $14.83. The firm has a market capitalization of $336.22 million, a PE ratio of 147.73 and a beta of 0.17. The stock has a 50 day moving average price of $14.18 and a 200 day moving average price of $13.08.
Lumos Networks Corp. (NASDAQ:LMOS) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Lumos Networks Corp. had a return on equity of 1.33% and a net margin of 0.99%. The firm had revenue of $51.80 million for the quarter, compared to analysts’ expectations of $52.66 million. During the same quarter last year, the firm posted $0.06 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Lumos Networks Corp. will post $0.02 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in LMOS. Verition Fund Management LLC acquired a new stake in Lumos Networks Corp. during the third quarter valued at $350,000. The Manufacturers Life Insurance Company acquired a new stake in Lumos Networks Corp. during the third quarter valued at $208,000. Two Sigma Advisers LP boosted its stake in Lumos Networks Corp. by 16.7% in the third quarter. Two Sigma Advisers LP now owns 84,723 shares of the company’s stock valued at $1,186,000 after buying an additional 12,101 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Lumos Networks Corp. during the third quarter valued at $169,000. Finally, Morgan Stanley boosted its stake in Lumos Networks Corp. by 1,578.5% in the third quarter. Morgan Stanley now owns 23,096 shares of the company’s stock valued at $323,000 after buying an additional 21,720 shares during the last quarter. 84.23% of the stock is currently owned by hedge funds and other institutional investors.
LMOS has been the subject of a number of research reports. Jefferies Group raised Lumos Networks Corp. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $16.00 in a report on Thursday, August 4th. BTIG Research initiated coverage on Lumos Networks Corp. in a research note on Thursday, August 11th. They set a “buy” rating and a $17.50 target price for the company. Drexel Hamilton set a $18.00 price target on Lumos Networks Corp. and gave the stock a “buy” rating in a report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded Lumos Networks Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Friday, November 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $17.63.
Lumos Networks Corp. Company Profile
Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.
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