Intech Investment Management LLC Has $4.79 Million 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 stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 24.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,221,905 shares of the technology company's stock after buying an additional 242,418 shares during the quarter. Intech Investment Management LLC owned approximately 0.12% of Lumen Technologies worth $4,790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Lumen Technologies by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company's stock worth $11,702,000 after buying an additional 300,328 shares in the last quarter. Optimize Financial Inc lifted its position in Lumen Technologies by 74.0% in the 1st quarter. Optimize Financial Inc now owns 278,527 shares of the technology company's stock worth $1,092,000 after buying an additional 118,430 shares in the last quarter. Woodline Partners LP purchased a new stake in Lumen Technologies in the 1st quarter worth approximately $5,006,000. Empowered Funds LLC lifted its position in Lumen Technologies by 26.8% in the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company's stock worth $1,066,000 after buying an additional 57,522 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Lumen Technologies during the 1st quarter valued at $669,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Insider Activity

In related news, CFO Christopher Stansbury acquired 42,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathleen E. Johnson acquired 135,870 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the acquisition, the chief executive officer owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. This trade represents a 1.43% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 217,870 shares of company stock worth $859,140. Insiders own 2.30% of the company's stock.

Lumen Technologies Stock Performance

Shares of LUMN traded down $0.22 during mid-day trading on Monday, hitting $5.83. The company's stock had a trading volume of 16,330,525 shares, compared to its average volume of 15,270,747. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $10.33. 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 capitalization of $5.98 billion, a PE ratio of -4.94 and a beta of 1.42. The stock's 50-day moving average is $4.60 and its two-hundred day moving average is $4.27.

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 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 during the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the prior year, the business earned ($0.13) earnings per share. Lumen Technologies's revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LUMN shares. The Goldman Sachs Group started coverage on shares of Lumen Technologies in a report on Tuesday, September 2nd. They set a "neutral" rating and a $4.10 price target on the stock. Raymond James Financial raised their price target on shares of 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 shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lumen Technologies currently has a consensus rating of "Hold" and a consensus price target 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.