Nationwide Fund Advisors raised its stake in Lumos Networks Corp. (NASDAQ:LMOS) by 19.8% during the second quarter, Holdings Channel reports. The fund owned 171,159 shares of the company’s stock after buying an additional 28,252 shares during the period. Nationwide Fund Advisors owned 0.73% of Lumos Networks Corp. worth $2,071,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in LMOS. Prudential Financial Inc. raised its stake in Lumos Networks Corp. by 4.3% in the first quarter. Prudential Financial Inc. now owns 62,891 shares of the company’s stock valued at $808,000 after buying an additional 2,600 shares during the last quarter. Geode Capital Management LLC raised its stake in Lumos Networks Corp. by 8.6% in the first quarter. Geode Capital Management LLC now owns 143,390 shares of the company’s stock worth $1,841,000 after buying an additional 11,372 shares during the last quarter. Chubb Ltd. purchased a new stake in Lumos Networks Corp. during the first quarter worth $359,000. Metropolitan Life Insurance Co. NY raised its stake in Lumos Networks Corp. by 47.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 20,786 shares of the company’s stock worth $267,000 after buying an additional 6,648 shares during the last quarter. Finally, Strs Ohio raised its stake in Lumos Networks Corp. by 8.3% in the second quarter. Strs Ohio now owns 52,200 shares of the company’s stock worth $631,000 after buying an additional 4,000 shares during the last quarter. 85.16% of the stock is owned by institutional investors.
Lumos Networks Corp. (NASDAQ:LMOS) traded down 1.13% on Thursday, reaching $14.06. 10,351 shares of the company’s stock were exchanged. Lumos Networks Corp. has a 12 month low of $10.18 and a 12 month high of $14.70. The firm has a 50 day moving average of $14.03 and a 200 day moving average of $12.83. The stock has a market capitalization of $329.89 million, a PE ratio of 144.95 and a beta of 0.18.
Lumos Networks Corp. (NASDAQ:LMOS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $51.74 million. Lumos Networks Corp. had a net margin of 1.12% and a return on equity of 1.74%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS.
A number of research firms recently weighed in on LMOS. Drexel Hamilton set a $18.00 price target on shares of Lumos Networks Corp. and gave the company a “buy” rating in a report on Wednesday, August 31st. BTIG Research began coverage on shares of Lumos Networks Corp. in a report on Thursday, August 11th. They set a “buy” rating and a $17.50 price target for the company. Finally, Jefferies Group raised shares of Lumos Networks Corp. from a “hold” rating to a “buy” rating and raised their price target for the company from $15.00 to $16.00 in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Lumos Networks Corp. presently has a consensus rating of “Buy” and an average price target of $17.90.
In other news, EVP Joseph E. Jr. Mccourt sold 2,000 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $13.96, for a total value of $27,920.00. Following the sale, the executive vice president now owns 47,887 shares in the company, valued at approximately $668,502.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is currently owned by company 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.