Lumos Networks Corp (NASDAQ:LMOS) Experiences Lighter than Average Trading Volume


Trading was light with 13K shares changing hands by the end of trading on Wednesday. Shares saw a steep decrease in trading volume of 86.30% under the normal average daily volume.

Investors are feeling more bearish on Lumos Networks Corp as shown by the change in short interest. The company had a rise in short interest between September 29, 2017 and October 13, 2017 of 10.18%. Short shares grew 56,493 over that timeframe. With short interest at 611,563 and short average daily volume at 119,736, days to cover is 5.0 and the percentage of shorted shares is 0.03% as of October 13.

A few notable investment firms have updated their holdings. Two Sigma Investments, Lp grew its investment by buying 53,664 shares an increase of 107.4% in the quarter. Two Sigma Investments, Lp now controls 103,624 shares with a value of $1,857,000. The total value of its holdings increased 108.0%. As of the end of the quarter Goldman Sachs Group Inc had acquired 50,472 shares growing its stake by 35.5%. The value of the company’s investment in Lumos Networks Corp increased from $2,541,000 to $3,453,000 a change of 35.9% quarter over quarter.

Water Island Capital LLC downsized its stake by selling 394,168 shares a decrease of 64.4%. Water Island Capital LLC currently owns 217,919 shares worth $3,905,000. The value of the position overall is down by 64.0%. Kennedy Capital Management, Inc. augmented its holdings by buying 66,067 shares an increase of 9.6% from 06/30/2017 to 09/30/2017. Kennedy Capital Management, Inc. controls 753,726 shares valued at $13,507,000. The value of the position overall is up by 9.9%.

The company is trading unchanged by 0.00% since yesterday’s close of 17.98. The most current P/E ratio is N/A and the market value is 430.03M. As of the latest earnings report the EPS was $-0.23 with 23.92M shares presently outstanding.

Lumos Networks Corp., launched on February 16, 2011, 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. The Company operates through three segments: Data, Residential and Small Business (R&SB), and RLEC Access. The Data segment includes the Business’s enterprise data, transport and Fiber to the Cell (FTTC) product groups. The R&SB segment includes voice and IP services products targeted to its residential and small business customers. The RLEC Access segment provides other carrier customers access to the Business’s network within the Business’s rural local exchange carrier (RLEC) territories through switched access services..

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