Zacks Investment Research cut shares of Lumos Networks Corp. (NASDAQ:LMOS) from a buy rating to a hold rating in a report issued on Wednesday.

According to Zacks, “Lumos Networks Corp. operates as fiber-based network service provider primarily in the Mid-Atlantic region. It operates in two segments: Competitive and Rural Local Exchange Carrier. The Competitive segment offers transport services, data and voice services and Internet access, and carrier transport services. The Rural Local Exchange Carrier segment provides wireline communications services. The Company serves a wide range of customers, including telecommunication carriers, enterprise and other business customers and residential customers over a dense fiber network offering data, voice, and IP-based services. Lumos Networks Corp. is headquartered in Waynesboro, Virginia. “

Separately, BidaskClub cut 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 issued a hold rating and one has issued a buy rating to the company’s stock. Lumos Networks Corp. presently has a consensus rating of Hold and an average price target of $19.25.

Lumos Networks Corp. (NASDAQ LMOS) opened at 17.97 on Wednesday. Lumos Networks Corp. has a one year low of $13.25 and a one year high of $17.99. The stock has a 50 day moving average of $17.93 and a 200-day moving average of $17.88. The stock’s market cap is $430.27 million.

Lumos Networks Corp. (NASDAQ:LMOS) last issued its earnings results on Monday, August 7th. The utilities provider reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company 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%. Analysts anticipate that Lumos Networks Corp. will post ($0.19) EPS for the current year.

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In other Lumos Networks Corp. news, insider Thomas E. Ferry sold 8,252 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $17.94, for a total value of $148,040.88. Following the sale, the insider now owns 50,383 shares in the company, valued at approximately $903,871.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMOS. Kennedy Capital Management Inc. bought a new stake in shares of Lumos Networks Corp. during the 1st quarter valued at about $12,271,000. Glazer Capital LLC boosted its position in shares of Lumos Networks Corp. by 259.0% during the 2nd quarter. Glazer Capital LLC now owns 544,592 shares of the utilities provider’s stock valued at $9,732,000 after purchasing an additional 392,891 shares in the last quarter. Gluskin Sheff & Assoc Inc. bought a new stake in shares of Lumos Networks Corp. during the 2nd quarter valued at about $5,862,000. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $6,507,000 after purchasing an additional 286,322 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Lumos Networks Corp. by 47.0% during the 1st quarter. Renaissance Technologies LLC now owns 850,500 shares of the utilities provider’s stock valued at $15,054,000 after purchasing an additional 272,000 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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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