Morgan Stanley Has $4 Million Stake in Lumos Networks Corp. (NASDAQ:LMOS)
Morgan Stanley increased its position in Lumos Networks Corp. (NASDAQ:LMOS) by 202.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,972 shares of the utilities provider’s stock after buying an additional 151,221 shares during the period. Morgan Stanley’s holdings in Lumos Networks Corp. were worth $3,999,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of LMOS. Arizona State Retirement System raised its stake in Lumos Networks Corp. by 0.8% in the first quarter. Arizona State Retirement System now owns 12,280 shares of the utilities provider’s stock worth $217,000 after buying an additional 100 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Lumos Networks Corp. by 4.8% in the first quarter. Thrivent Financial For Lutherans now owns 13,290 shares of the utilities provider’s stock worth $235,000 after buying an additional 610 shares in the last quarter. Virtu Financial LLC bought a new stake in Lumos Networks Corp. during the first quarter worth $313,000. S. Muoio & CO. LLC bought a new stake in Lumos Networks Corp. during the first quarter worth $382,000. Finally, State of Tennessee Treasury Department raised its stake in Lumos Networks Corp. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 21,590 shares of the utilities provider’s stock worth $382,000 after buying an additional 3,258 shares in the last quarter. Institutional investors own 84.10% of the company’s stock.
Lumos Networks Corp. (NASDAQ:LMOS) traded up 0.06% during mid-day trading on Monday, reaching $17.89. The company’s stock had a trading volume of 12,415 shares. Lumos Networks Corp. has a 52 week low of $13.01 and a 52 week high of $17.99. The company’s 50-day moving average price is $17.89 and its 200 day moving average price is $17.50. The firm’s market capitalization is $428.36 million.
Lumos Networks Corp. (NASDAQ:LMOS) last issued its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Lumos Networks Corp. had a negative net margin of 1.70% and a negative return on equity of 2.79%. The business had revenue of $56.37 million for the quarter, compared to analyst estimates of $55.33 million. On average, equities analysts forecast that Lumos Networks Corp. will post ($0.23) earnings per share for the current fiscal year.
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A number of research firms have weighed in on LMOS. Zacks Investment Research upgraded Lumos Networks Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, August 9th. BidaskClub lowered Lumos Networks Corp. from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Lumos Networks Corp. has an average rating of “Hold” and an average target price of $19.25.
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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