Insider Selling: Lumos Networks Corp. (NASDAQ:LMOS) Insider Sells 1,225,278 Shares of Stock

Lumos Networks Corp. (NASDAQ:LMOS) insider Pamplona Capital Partners Iv L sold 1,225,278 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $18.00, for a total value of $22,055,004.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Lumos Networks Corp. (LMOS) remained flat at $$17.98 during trading on Monday. 99,200 shares of the stock traded hands, compared to its average volume of 232,861. Lumos Networks Corp. has a 1 year low of $14.02 and a 1 year high of $17.99. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.76.

Separately, Zacks Investment Research upgraded Lumos Networks from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $19.25.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Lumos Networks by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 2,909,952 shares of the utilities provider’s stock valued at $51,506,000 after acquiring an additional 212,774 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Lumos Networks by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,215,549 shares of the utilities provider’s stock valued at $21,515,000 after acquiring an additional 33,312 shares during the period. Glazer Capital LLC boosted its holdings in Lumos Networks 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 acquiring an additional 392,891 shares during the period. State Street Corp boosted its holdings in Lumos Networks by 6.7% during the 2nd quarter. State Street Corp now owns 487,220 shares of the utilities provider’s stock valued at $8,705,000 after acquiring an additional 30,714 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Lumos Networks by 65.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 422,457 shares of the utilities provider’s stock valued at $7,549,000 after acquiring an additional 166,503 shares during the period. Institutional investors own 75.63% of the company’s stock.

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About Lumos Networks

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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