Compagnie Lombard Odier SCmA Increases Stock Holdings in Lumen Technologies, Inc. $LUMN

Key Points

• Compagnie Lombard Odier SCmA has increased its holdings in Lumen Technologies by 100%, owning 200,000 shares worth approximately $876,000 following their purchase of an additional 100,000 shares in the second quarter.
• Other institutional investors, including Invesco Ltd. and Allianz Asset Management, have also increased their stakes in Lumen Technologies, contributing to institutional ownership of 66.19% of the company's stock.
• Analysts have generally rated Lumen Technologies with a consensus "Hold" rating, with a current price target of $5.14, following a mixed performance in its latest earnings report.

Compagnie Lombard Odier SCmA grew its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 100.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the technology company's stock after buying an additional 100,000 shares during the quarter. Compagnie Lombard Odier SCmA's holdings in Lumen Technologies were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its position in shares of Lumen Technologies by 91.6% in the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company's stock valued at $40,285,000 after buying an additional 4,911,803 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Lumen Technologies by 12.6% during the first quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company's stock valued at $34,387,000 after acquiring an additional 982,038 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Lumen Technologies during the first quarter valued at $26,469,000. Principal Financial Group Inc. boosted its stake in shares of Lumen Technologies by 2.7% during the first quarter. Principal Financial Group Inc. now owns 5,053,232 shares of the technology company's stock valued at $19,809,000 after acquiring an additional 131,851 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Lumen Technologies by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 3,218,230 shares of the technology company's stock valued at $12,615,000 after acquiring an additional 689,843 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Wall Street Analyst Weigh In

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

Lumen Technologies Price Performance

LUMN stock opened at $6.24 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $10.33. The stock's 50 day moving average is $4.73 and its two-hundred day moving average is $4.30. The company has a market capitalization of $6.40 billion, a PE ratio of -5.28 and a beta of 1.42.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.11 billion. During the same period in the previous year, the business earned ($0.13) EPS. Lumen Technologies's revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, CFO Christopher Stansbury bought 42,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was bought at an average price 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. The trade was a 8.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kathleen E. Johnson bought 135,870 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average price 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 in the company, valued at approximately $35,486,534.43. This represents a 1.43% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 217,870 shares of company stock valued at $859,140. Insiders own 2.30% of the company's stock.

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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