76,003 Shares in Lumen Technologies, Inc. $LUMN Purchased by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC acquired 76,003 shares of Lumen Technologies, valued at about $333,000, marking a new investment in the company.
• Insider transactions revealed that CEO Kathleen E. Johnson and CFO Christopher Stansbury increased their holdings in Lumen Technologies, indicating confidence in the company's prospects.
• Recent analyst reports have varied opinions on Lumen Technologies, with Goldman Sachs issuing a "neutral" rating and Raymond James upgrading their target price from $4.50 to $5.00.

Counterpoint Mutual Funds LLC purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 76,003 shares of the technology company's stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LUMN. Quantinno Capital Management LP purchased a new position in Lumen Technologies in the 4th quarter valued at $54,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Lumen Technologies by 7.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,684,888 shares of the technology company's stock valued at $14,257,000 after purchasing an additional 197,534 shares in the last quarter. Forum Financial Management LP lifted its holdings in Lumen Technologies by 72.5% in the 4th quarter. Forum Financial Management LP now owns 27,552 shares of the technology company's stock valued at $146,000 after purchasing an additional 11,581 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Lumen Technologies by 1,127.7% in the 4th quarter. Mackenzie Financial Corp now owns 790,031 shares of the technology company's stock valued at $4,195,000 after purchasing an additional 725,681 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Lumen Technologies in the 4th quarter valued at $398,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Insider Transactions at Lumen Technologies

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

Analyst Upgrades and Downgrades

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

Lumen Technologies Stock Down 2.2%

Shares of NYSE:LUMN opened at $5.67 on Thursday. The business has a 50-day moving average price of $4.78 and a 200 day moving average price of $4.32. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of -4.81 and a beta of 1.42. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $10.33.

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

Lumen Technologies 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.

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