Paradigm Capital Management Inc. NY Continues to Hold Stake in Lumos Networks Corp. (LMOS)
Paradigm Capital Management Inc. NY continued to hold its position in Lumos Networks Corp. (NASDAQ:LMOS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the utilities provider’s stock at the end of the second quarter. Paradigm Capital Management Inc. NY owned about 0.06% of Lumos Networks Corp. worth $268,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in LMOS. Kennedy Capital Management Inc. acquired a new position in Lumos Networks Corp. during the 1st quarter worth approximately $12,271,000. Goldman Sachs Group Inc. boosted its position in Lumos Networks Corp. by 352.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 367,641 shares of the utilities provider’s stock worth $6,507,000 after acquiring an additional 286,322 shares during the last quarter. Renaissance Technologies LLC boosted its position in Lumos Networks Corp. by 47.0% during the 1st quarter. Renaissance Technologies LLC now owns 850,500 shares of the utilities provider’s stock worth $15,054,000 after acquiring an additional 272,000 shares during the last quarter. Vanguard Group Inc. boosted its position in Lumos Networks Corp. by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 2,909,952 shares of the utilities provider’s stock worth $51,506,000 after acquiring an additional 212,774 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Lumos Networks Corp. by 271.4% during the 1st quarter. JPMorgan Chase & Co. now owns 255,954 shares of the utilities provider’s stock worth $4,530,000 after acquiring an additional 187,042 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Lumos Networks Corp. (LMOS) opened at 17.94 on Thursday. The stock has a 50 day moving average price of $17.90 and a 200 day moving average price of $17.84. The firm’s market cap is $429.56 million. Lumos Networks Corp. has a 12-month low of $13.25 and a 12-month high of $17.99.
Lumos Networks Corp. (NASDAQ:LMOS) last released its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $56.37 million during the quarter, compared to the consensus estimate of $55.33 million. Lumos Networks Corp. had a negative return on equity of 2.79% and a negative net margin of 1.70%. On average, equities analysts expect that Lumos Networks Corp. will post ($0.19) earnings per share for the current year.
A number of research firms have weighed in on LMOS. Zacks Investment Research raised Lumos Networks Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, August 9th. BidaskClub downgraded Lumos Networks Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $19.25.
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In other news, insider Thomas E. Ferry sold 8,252 shares of the business’s stock in a transaction that occurred 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 filing with the SEC, which is available at this hyperlink. Insiders own 8.70% of the company’s stock.
Lumos Networks Corp. 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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