Lumos Networks Corp. (LMOS) Sees Large Volume Increase
Lumos Networks Corp. (NASDAQ:LMOS) saw unusually-high trading volume on Thursday . Approximately 105,088 shares traded hands during 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.
LMOS has been the topic of a number of recent analyst reports. William Blair initiated coverage on Lumos Networks Corp. in a research report on Tuesday, April 19th. They set an “outperform” rating on the stock. Zacks Investment Research upgraded Lumos Networks Corp. from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. Finally, Jefferies Group reiterated a “hold” rating on shares of Lumos Networks Corp. in a research report on Saturday, May 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.80.
The firm’s 50-day moving average price is $11.96 and its 200 day moving average price is $12.07. The stock has a market cap of $292.43 million and a P/E ratio of 69.01.
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. The firm earned $50.80 million during the quarter, compared to analyst estimates of $51.65 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis.
In other news, EVP Joseph E. Jr. Mccourt sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $12.57, for a total value of $25,140.00. Following the transaction, the executive vice president now owns 47,887 shares of the company’s stock, valued at $601,939.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Several hedge funds and institutional investors recently added to or reduced their stakes in LMOS. Columbia Wanger Asset Management LLC raised its position in 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 worth $18,813,000 after buying an additional 521,256 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Lumos Networks Corp. by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,881 shares of the company’s stock worth $9,440,000 after buying an additional 73,026 shares during the last quarter. Principal Financial Group Inc. raised its position in Lumos Networks Corp. by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 151,194 shares of the company’s stock worth $1,693,000 after buying an additional 7,095 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in Lumos Networks Corp. by 0.3% in the fourth quarter. Nationwide Fund Advisors now owns 142,657 shares of the company’s stock worth $1,598,000 after buying an additional 405 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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