Archer Capital Management buys $29,370,104 stake in Lumos Networks Corp (LMOS)

Lumos Networks Corp (LMOS) : Archer Capital Management scooped up 119,007 additional shares in Lumos Networks Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 2,015,793 shares of Lumos Networks Corp which is valued at $29,370,104.Lumos Networks Corp makes up approximately 8.47% of Archer Capital Management’s portfolio.

Other Hedge Funds, Including , Peak6 Investments boosted its stake in LMOS in the latest quarter, The investment management firm added 8,238 additional shares and now holds a total of 10,248 shares of Lumos Networks Corp which is valued at $149,313. Lumos Networks Corp makes up approx 0.01% of Peak6 Investments’s portfolio.Alliancebernstein boosted its stake in LMOS in the latest quarter, The investment management firm added 2,700 additional shares and now holds a total of 16,260 shares of Lumos Networks Corp which is valued at $237,071. Columbia Wanger Asset Management sold out all of its stake in LMOS during the most recent quarter. The investment firm sold 770,000 shares of LMOS which is valued $11,226,600.Blackrock Group Ltd boosted its stake in LMOS in the latest quarter, The investment management firm added 1,474 additional shares and now holds a total of 22,371 shares of Lumos Networks Corp which is valued at $311,404.

Lumos Networks Corp opened for trading at $14.17 and hit $14.46 on the upside on Monday, eventually ending the session at $14.33, with a gain of 0.56% or 0.08 points. The heightened volatility saw the trading volume jump to 1,31,261 shares. Company has a market cap of $338 M.

On the company’s financial health, Lumos Networks Corp reported $0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 9, 2016. Analyst had a consensus of $0.05. The company had revenue of $51.77 million for the quarter, compared to analysts expectations of $52.66 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

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. The Company operates through three segments: Data Residential and Small Business (R&SB) and RLEC Access. The Data segment includes the Company’s enterprise data transport and Fiber to the Cell (FTTC) product groups. The R&SB segment includes legacy voice and IP services products targeted to its residential and small business customers. The RLEC Access segment provides carrier customers access to the Company’s network within the Company’s RLEC footprint and primarily includes switched access services.

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