Insider Buying: Lumen Technologies, Inc. (NYSE:LUMN) Director Acquires $47,000.00 in Stock

Lumen Technologies, Inc. (NYSE:LUMN) Director James Fowler bought 10,000 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN opened at $5.50 on Friday. Lumen Technologies, Inc. has a twelve month low of $0.78 and a twelve month high of $7.83. The firm has a market cap of $5.58 billion, a PE ratio of -0.50 and a beta of 1.14. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01. The business has a fifty day moving average of $3.42 and a 200-day moving average of $2.09.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. Lumen Technologies’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Moffett Nathanson lifted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Wells Fargo & Company cut Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $1.75 to $4.00 in a report on Friday, August 16th. Bank of America lifted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. Finally, TD Cowen lifted their price objective on Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.02.

Institutional Trading of Lumen Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUMN. Sawgrass Asset Management LLC increased its position in Lumen Technologies by 68.5% in the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after purchasing an additional 9,263 shares during the period. Sanctuary Advisors LLC acquired a new stake in Lumen Technologies in the second quarter worth about $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in Lumen Technologies in the second quarter worth about $26,000. HighPoint Advisor Group LLC acquired a new stake in Lumen Technologies in the fourth quarter worth about $27,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Lumen Technologies in the second quarter worth about $33,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.