Intech Investment Management LLC Grows Stock Position in Lumen Technologies, Inc. $LUMN

Key Points

• Intech Investment Management LLC increased its holdings in Lumen Technologies by 24.7% during Q1, holding over 1.2 million shares worth approximately $4.79 million.
• Lumen Technologies received mixed ratings from analysts, with some upgrading the stock to a "hold" and others maintaining a "neutral" rating, and an average price target of $5.14.
• Insiders at Lumen Technologies have been actively buying shares, with CEO Kathleen E. Johnson acquiring 135,870 shares valued at over $500,000, indicating confidence in the company's prospects.

Intech Investment Management LLC boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 24.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,221,905 shares of the technology company's stock after acquiring an additional 242,418 shares during the quarter. Intech Investment Management LLC owned 0.12% of Lumen Technologies worth $4,790,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LUMN. Nuveen LLC purchased a new stake in shares of Lumen Technologies during the first quarter valued at $26,469,000. Invesco Ltd. boosted its position in Lumen Technologies by 91.6% in the 1st 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 during the period. Millennium Management LLC boosted its position in Lumen Technologies by 474.8% in the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock valued at $30,503,000 after buying an additional 4,745,040 shares during the period. Woodline Partners LP purchased a new stake in shares of Lumen Technologies in the first quarter valued at approximately $5,006,000. Finally, Deutsche Bank AG boosted its holdings in shares of Lumen Technologies by 182.3% in the fourth quarter. Deutsche Bank AG now owns 1,589,213 shares of the technology company's stock valued at $8,439,000 after purchasing an additional 1,026,248 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.

Insider Activity

In other news, CEO Kathleen E. Johnson bought 135,870 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was bought 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher Stansbury bought 40,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $4.44 per share, with a total value of $177,600.00. Following the transaction, the chief financial officer directly owned 535,000 shares of the company's stock, valued at $2,375,400. The trade was a 8.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 217,870 shares of company stock valued at $859,140. Insiders own 2.30% of the company's stock.

Lumen Technologies Stock Up 2.1%

Lumen Technologies stock traded up $0.12 during mid-day trading on Thursday, reaching $5.71. 6,151,004 shares of the company were exchanged, compared to its average volume of 12,657,200. 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 firm has a market cap of $5.85 billion, a P/E ratio of -4.83 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. The business has a fifty day moving average of $4.65 and a 200 day moving average of $4.29.

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 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 analysts' expectations of $3.11 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm's quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) EPS. Research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.