Quadrangle Gp Investors Limits Exposure to Lumos Networks

Quadrangle Gp Investors is trimming exposure to Lumos Networks Corp (NASDAQ:LMOS). According to a recent filing with the Securities and Exchange Commission, the fund has decreased their holding to 2.79 million from 2.88 million shares. The decreased stake represents approximately 12.7% of the company’s common stock.

On November 14, Lumos Networks announced the public offering of 2,512,121 shares at the price of $20.00 apiece. All the shares were offered by Quadrangle Capital Partners L.P. and their affiliated entities. An additional option for 376,818 shares has been offered to the underwriters. The company received no proceedings from the offering.

Archer Capital Management, managed by Eric Edidin and Josh Lobel, is bullish on this stock. Archer Capital increased their stake in Lumos Networks by 4% and currently hold 2.3 million shares, reportedly worth $51 million. Shannon River Fund Management, run by Spencer M. Waxman, have made no change to their holding of the stock during the third quarter of 2013. Shannon River holds a little over 1 million shares, valued at $22.7 million. Jacob Gottlieb is not that optimistic about Lumos Networks. His fund, Visium Asset Management, has decreased their investment by 34% and currently hold approximately 98 thousand shares worth $2.1 million.

Lumos Networks’ stock price has been in an uptrend in 2013, up 130% so far this year. Shares are currently changing hands at a price of $23.65 and have a trailing Price to Earnings (P/E) ratio of 33.42. The stock has a beta of -0.77 and pays a dividend of $0.56, which represents a yield of 2.4%. During the latest quarter, Lumos Networks registered revenues of $51.6 million and Earnings Per diluted Share (EPS) of $0.11. For the current quarter, the company is expected to increase its revenues to $52 million and earnings to $0.2 per share.

Disclosure: none

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