170,556 Shares in Lumen Technologies, Inc. $LUMN Acquired by Caxton Associates LLP

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 purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 170,556 shares of the technology company's stock, valued at approximately $669,000.

Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in shares of Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock worth $39,000 after purchasing an additional 7,307 shares during the last quarter. Conning Inc. bought a new stake in shares of Lumen Technologies in the 1st quarter worth approximately $39,000. Quantinno Capital Management LP bought a new stake in shares of Lumen Technologies in the 4th quarter worth approximately $54,000. OneDigital Investment Advisors LLC bought a new stake in shares of Lumen Technologies in the 1st quarter worth approximately $41,000. Finally, Meeder Advisory Services Inc. bought a new stake in shares of Lumen Technologies in the 1st quarter worth approximately $41,000. Institutional investors own 66.19% of the company's stock.

Insider Buying and Selling at Lumen Technologies

In other news, CFO Christopher Stansbury purchased 42,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $180,180.00. Following the transaction, the chief financial officer owned 518,000 shares in the company, valued at $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kathleen E. Johnson purchased 135,870 shares of the stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the transaction, the chief executive officer owned 9,616,947 shares in the company, valued at $35,486,534.43. This trade represents a 1.43% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 217,870 shares of company stock worth $859,140. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on LUMN. BNP Paribas raised Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Raymond James Financial raised their target price on Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Lumen Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, The Goldman Sachs Group initiated coverage on Lumen Technologies in a research report on Tuesday, September 2nd. They issued a "neutral" rating and a $4.10 target price on the stock. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.14.

Lumen Technologies Stock Down 0.8%

Shares of LUMN stock opened at $6.09 on Friday. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $10.33. The stock has a market cap of $6.25 billion, a PE ratio of -5.16 and a beta of 1.42. The business's fifty day moving average is $4.55 and its 200-day moving average is $4.26. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13.

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

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.

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