Lumos Networks Corp. (LMOS) Sees Strong Trading Volume
Lumos Networks Corp. (NASDAQ:LMOS) shares saw unusually-strong trading volume on Thursday . Approximately 105,088 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 135,318 shares.The stock last traded at $12.44 and had previously closed at $12.49.
A number of analysts have weighed in on LMOS shares. William Blair started coverage on Lumos Networks Corp. in a research report on Tuesday, April 19th. They issued an “outperform” rating for the company. Zacks Investment Research raised Lumos Networks Corp. from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $18.00 price target on shares of Lumos Networks Corp. in a research report on Thursday, March 10th. Wells Fargo & Co. reissued a “buy” rating on shares of Lumos Networks Corp. in a research report on Thursday, March 10th. Finally, Jefferies Group reissued a “hold” rating on shares of Lumos Networks Corp. in a research report on Saturday, May 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Lumos Networks Corp. presently has a consensus rating of “Buy” and a consensus price target of $17.80.
The stock’s 50-day moving average is $11.97 and its 200 day moving average is $12.06. The stock has a market cap of $289.87 million and a PE ratio of 68.41.
Lumos Networks Corp. (NASDAQ:LMOS) last released its earnings results on Thursday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.14. During the same period in the previous year, the business posted $0.12 EPS. The business earned $50.80 million during the quarter, compared to analysts’ expectations of $51.65 million. The company’s quarterly revenue was up .6% on a year-over-year basis.
In other Lumos Networks Corp. news, EVP Joseph E. Jr. Mccourt sold 2,000 shares of the stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $12.57, for a total transaction of $25,140.00. Following the completion of the transaction, the executive vice president now owns 47,887 shares in the company, valued at approximately $601,939.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Other institutional investors recently made changes to their positions in the company. Nationwide Fund Advisors boosted its position in shares of Lumos Networks Corp. by 0.3% in the fourth quarter. Nationwide Fund Advisors now owns 142,657 shares of the company’s stock valued at $1,598,000 after buying an additional 405 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its position in shares of Lumos Networks Corp. by 45.0% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 1,679,756 shares of the company’s stock valued at $18,813,000 after buying an additional 521,256 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Lumos Networks Corp. by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 151,194 shares of the company’s stock valued at $1,693,000 after buying an additional 7,095 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lumos Networks Corp. by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,881 shares of the company’s stock valued at $9,440,000 after buying an additional 73,026 shares during the last quarter.
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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