Cidel Asset Management Inc. Reduces Stock Holdings in Lumen Technologies, Inc. $LUMN

Cidel Asset Management Inc. reduced its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 39.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,754 shares of the technology company's stock after selling 44,541 shares during the period. Cidel Asset Management Inc.'s holdings in Lumen Technologies were worth $306,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock worth $26,000 after buying an additional 3,391 shares in the last quarter. Conning Inc. purchased a new stake in Lumen Technologies during the first quarter worth $39,000. OneDigital Investment Advisors LLC purchased a new stake in Lumen Technologies during the first quarter worth $41,000. Meeder Advisory Services Inc. purchased a new stake in Lumen Technologies during the first quarter worth $41,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Lumen Technologies by 60.8% during the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company's stock worth $43,000 after buying an additional 4,102 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $6.89 on Monday. 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 company has a fifty day moving average of $5.59 and a two-hundred day moving average of $4.56. The stock has a market capitalization of $7.06 billion, a PE ratio of -5.83 and a beta of 1.45. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The business had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Lumen Technologies

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on LUMN. Citigroup increased their price target on shares of Lumen Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a report on Thursday, September 25th. Raymond James Financial boosted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a "neutral" rating in a research report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.39.

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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