Lumos Networks Corp. (LMOS) Shares Sold by Kennedy Capital Management Inc.
Kennedy Capital Management Inc. lowered its holdings in Lumos Networks Corp. (NASDAQ:LMOS) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 687,659 shares of the utilities provider’s stock after selling 5,605 shares during the quarter. Kennedy Capital Management Inc. owned approximately 2.87% of Lumos Networks Corp. worth $12,288,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LMOS. Municipal Employees Retirement System of Michigan lifted its holdings in Lumos Networks Corp. by 6.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,660 shares of the utilities provider’s stock worth $101,000 after buying an additional 330 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Lumos Networks Corp. by 48.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,200 shares of the utilities provider’s stock worth $147,000 after buying an additional 2,686 shares during the period. Arizona State Retirement System lifted its holdings in Lumos Networks Corp. by 0.8% in the 1st quarter. Arizona State Retirement System now owns 12,280 shares of the utilities provider’s stock worth $217,000 after buying an additional 100 shares during the period. Thrivent Financial For Lutherans lifted its holdings in Lumos Networks Corp. by 4.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 13,290 shares of the utilities provider’s stock worth $235,000 after buying an additional 610 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Lumos Networks Corp. in the 1st quarter worth approximately $251,000. Institutional investors and hedge funds own 79.71% of the company’s stock.
In related news, insider Thomas E. Ferry sold 8,252 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $17.94, for a total value of $148,040.88. Following the completion of the sale, the insider now owns 50,383 shares in the company, valued at $903,871.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is currently owned by insiders.
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Lumos Networks Corp. (NASDAQ LMOS) opened at 17.93 on Friday. The stock’s market cap is $429.32 million. The stock has a 50 day moving average price of $17.90 and a 200-day moving average price of $17.83. Lumos Networks Corp. has a 1-year low of $13.25 and a 1-year high of $17.99.
Lumos Networks Corp. (NASDAQ:LMOS) last announced its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $56.37 million during the quarter, compared to analyst estimates of $55.33 million. Lumos Networks Corp. had a negative return on equity of 2.79% and a negative net margin of 1.70%. On average, equities analysts expect that Lumos Networks Corp. will post ($0.19) EPS for the current year.
Several equities research analysts have weighed in on LMOS shares. Zacks Investment Research cut Lumos Networks Corp. from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub cut Lumos Networks Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Lumos Networks Corp. has a consensus rating of “Hold” and an average target price of $19.25.
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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