Caxton Associates LLP Buys Shares of 170,556 Lumen Technologies, Inc. $LUMN

Key Points

• Caxton Associates LLP acquired 170,556 shares of Lumen Technologies, Inc., valued at approximately $669,000, indicating increased interest from institutional investors.
• Insider transactions included CFO Christopher Stansbury purchasing 42,000 shares and CEO Kathleen E. Johnson acquiring 135,870 shares, reflecting confidence in the company's future.
• Analysts have mixed opinions on Lumen Technologies, with reports showing target prices ranging from $4.10 to $5.14 and an overall consensus rating of "Hold".

Caxton Associates LLP acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 170,556 shares of the technology company's stock, valued at approximately $669,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after acquiring an additional 7,307 shares during the last quarter. Conning Inc. acquired a new stake in shares of Lumen Technologies in the 1st quarter valued at about $39,000. OneDigital Investment Advisors LLC acquired a new position in Lumen Technologies during the first quarter worth approximately $41,000. Meeder Advisory Services Inc. purchased a new stake in Lumen Technologies in the first quarter valued at approximately $41,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Lumen Technologies in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Raymond James Financial lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. The Goldman Sachs Group started coverage on Lumen Technologies in a research report on Tuesday, September 2nd. They set a "neutral" rating and a $4.10 price objective for the company. BNP Paribas raised Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Lumen Technologies currently has an average rating of "Hold" and a consensus price target of $5.14.

Insider Buying and Selling

In other news, CEO Kathleen E. Johnson bought 135,870 shares of the stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the acquisition, the chief executive officer owned 9,616,947 shares of the company's stock, valued at approximately $35,486,534.43. This trade represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher Stansbury purchased 40,000 shares of the company's stock in a transaction dated Friday, August 15th. The stock was purchased at an average price of $4.44 per share, with a total value of $177,600.00. Following the transaction, the chief financial officer owned 535,000 shares of the company's stock, valued at approximately $2,375,400. This represents a 8.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 217,870 shares of company stock valued at $859,140. Insiders own 2.30% of the company's stock.

Lumen Technologies Price Performance

NYSE:LUMN traded up $0.20 during trading hours on Wednesday, hitting $5.74. The company's stock had a trading volume of 3,015,613 shares, compared to its average volume of 12,597,043. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $10.33. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The business's 50-day moving average is $4.62 and its two-hundred day moving average is $4.28. The company has a market capitalization of $5.88 billion, a PE ratio of -4.91 and a beta of 1.42.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.21. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the prior year, the company posted ($0.13) EPS. The business's revenue for the quarter was down 5.4% on a year-over-year basis. As a group, research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies Company Profile

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.