Lumos Networks Corp. (LMOS) Stake Lessened by Fmr LLC
Fmr LLC reduced its position in shares of Lumos Networks Corp. (NASDAQ:LMOS) by 70.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 527,318 shares of the utilities provider’s stock after selling 1,239,780 shares during the quarter. Fmr LLC owned 2.20% of Lumos Networks Corp. worth $9,423,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of LMOS. Gluskin Sheff & Assoc Inc. purchased a new stake in shares of Lumos Networks Corp. during the 2nd quarter worth about $5,862,000. Goldman Sachs Group Inc. boosted its stake in shares of Lumos Networks Corp. by 352.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 367,641 shares of the utilities provider’s stock worth $6,507,000 after acquiring an additional 286,322 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. 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. Finally, JPMorgan Chase & Co. boosted its stake in shares of Lumos Networks Corp. by 271.4% during the 1st quarter. JPMorgan Chase & Co. now owns 255,954 shares of the utilities provider’s stock worth $4,530,000 after acquiring an additional 187,042 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Lumos Networks Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, September 26th. BidaskClub lowered shares of Lumos Networks Corp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Lumos Networks Corp. currently has a consensus rating of “Hold” and a consensus target price of $19.25.
Shares of Lumos Networks Corp. (NASDAQ:LMOS) opened at 17.94 on Tuesday. The stock’s market capitalization is $429.56 million. Lumos Networks Corp. has a 1-year low of $13.25 and a 1-year high of $17.99. The stock’s 50 day moving average is $17.94 and its 200 day moving average is $17.90.
Lumos Networks Corp. (NASDAQ:LMOS) last issued its earnings results on Monday, August 7th. The utilities provider reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $56.37 million for the quarter, compared to the consensus estimate 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 forecast that Lumos Networks Corp. will post ($0.19) EPS for the current year.
In other news, insider Thomas E. Ferry sold 8,252 shares of Lumos Networks Corp. stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $17.94, for a total value of $148,040.88. Following the sale, the insider now owns 50,383 shares of the company’s stock, valued at $903,871.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is owned by insiders.
About Lumos Networks Corp.
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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