Lumos Networks Corp. (LMOS) Shares Bought by Arizona State Retirement System
Arizona State Retirement System lifted its position in shares of Lumos Networks Corp. (NASDAQ:LMOS) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,480 shares of the utilities provider’s stock after acquiring an additional 200 shares during the quarter. Arizona State Retirement System owned 0.05% of Lumos Networks Corp. worth $223,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Lumos Networks Corp. by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 2,909,952 shares of the utilities provider’s stock worth $51,506,000 after acquiring an additional 212,774 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lumos Networks Corp. by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,215,549 shares of the utilities provider’s stock worth $21,515,000 after acquiring an additional 33,312 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lumos Networks Corp. by 47.0% during the 1st quarter. Renaissance Technologies LLC now owns 850,500 shares of the utilities provider’s stock worth $15,054,000 after acquiring an additional 272,000 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Lumos Networks Corp. during the 1st quarter worth approximately $12,271,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Lumos Networks Corp. by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 401,348 shares of the utilities provider’s stock worth $7,104,000 after acquiring an additional 56,182 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.
In other Lumos Networks Corp. news, insider Thomas E. Ferry sold 8,252 shares of Lumos Networks Corp. stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $17.94, for a total value of $148,040.88. Following the transaction, the insider now owns 50,383 shares in the company, valued at $903,871.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Lumos Networks Corp. from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. BidaskClub lowered Lumos Networks Corp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Lumos Networks Corp. presently has an average rating of “Hold” and an average target price of $19.25.
Shares of Lumos Networks Corp. (NASDAQ LMOS) opened at 17.93 on Wednesday. The stock’s market cap is $429.32 million. The company has a 50-day moving average price of $17.90 and a 200-day moving average price of $17.84. 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 posted its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $56.37 million for the quarter, compared to analyst estimates of $55.33 million. Lumos Networks Corp. had a negative net margin of 1.70% and a negative return on equity of 2.79%. On average, equities analysts expect that Lumos Networks Corp. will post ($0.19) earnings per share for the current fiscal year.
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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