Corbyn Investment Management Inc. MD Has $3.38 Million Holdings in Lumos Networks Corp. (LMOS)
Corbyn Investment Management Inc. MD trimmed its stake in Lumos Networks Corp. (NASDAQ:LMOS) by 14.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,340 shares of the utilities provider’s stock after selling 30,686 shares during the quarter. Corbyn Investment Management Inc. MD owned 0.79% of Lumos Networks Corp. worth $3,375,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Lumos Networks Corp. by 49.9% during the third quarter. BNP Paribas Arbitrage SA now owns 12,291 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 4,091 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Lumos Networks Corp. during the third quarter valued at $820,000. Aperio Group LLC bought a new position in shares of Lumos Networks Corp. during the third quarter valued at $260,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Lumos Networks Corp. by 100.0% during the second quarter. Public Employees Retirement System of Ohio now owns 55,800 shares of the utilities provider’s stock valued at $997,000 after purchasing an additional 27,900 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Lumos Networks Corp. by 4.6% during the second quarter. California State Teachers Retirement System now owns 38,972 shares of the utilities provider’s stock valued at $696,000 after purchasing an additional 1,700 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Thomas E. Ferry sold 8,252 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $17.94, for a total transaction of $148,040.88. Following the completion of the sale, 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 can be accessed through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.
Lumos Networks Corp. (NASDAQ LMOS) traded down $0.01 during trading on Friday, reaching $17.97. The company had a trading volume of 44,100 shares, compared to its average volume of 234,926. The stock has a market capitalization of $430.03, a PE ratio of 256.86 and a beta of 0.74. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.36 and a current ratio of 0.65. Lumos Networks Corp. has a 12 month low of $14.02 and a 12 month high of $17.99.
A number of brokerages have recently issued reports on LMOS. Zacks Investment Research raised Lumos Networks Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, September 26th. BidaskClub downgraded Lumos Networks Corp. from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.25.
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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