Lumen Technologies, Inc. $LUMN Shares Bought by McAdam LLC

Key Points

• McAdam LLC has increased its holdings in Lumen Technologies by 52% during the second quarter, owning 172,330 shares valued at $755,000.
• CEO Kathleen E. Johnson purchased 135,870 shares of Lumen Technologies at $3.69 per share, increasing her ownership to approximately $35.5 million.
• Analysts have generally rated Lumen Technologies as a "Hold", with price targets ranging from $4.10 to $7.50, following recent upgrades from firms like Raymond James and Citigroup.

McAdam LLC grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 52.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,330 shares of the technology company's stock after buying an additional 58,980 shares during the period. McAdam LLC's holdings in Lumen Technologies were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Lumen Technologies by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company's stock worth $408,000 after purchasing an additional 2,220 shares in the last quarter. HB Wealth Management LLC lifted its position in Lumen Technologies by 23.6% during the first quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company's stock worth $54,000 after buying an additional 2,619 shares in the last quarter. Farther Finance Advisors LLC boosted its stake 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 during the last quarter. Natixis Advisors LLC grew its holdings in Lumen Technologies by 5.1% in the 1st quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company's stock valued at $277,000 after buying an additional 3,426 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Lumen Technologies by 1.0% in the 1st quarter. LPL Financial LLC now owns 380,016 shares of the technology company's stock worth $1,490,000 after acquiring an additional 3,927 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson purchased 135,870 shares of the firm's stock in a transaction 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 transaction, the chief executive officer directly owned 9,616,947 shares of the company's stock, valued at approximately $35,486,534.43. This represents a 1.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher Stansbury acquired 42,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $180,180.00. Following the transaction, the chief financial officer directly owned 518,000 shares of the company's stock, valued at approximately $2,222,220. This trade represents a 8.82% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 217,870 shares of company stock valued at $859,140. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BNP Paribas raised shares of Lumen Technologies to a "hold" rating in a research report on Wednesday, June 25th. Raymond James Financial increased their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Citigroup lifted their price target on shares of Lumen Technologies from $6.00 to $7.50 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen upgraded Lumen Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, The Goldman Sachs Group started coverage on Lumen Technologies in a research report on Tuesday, September 2nd. They issued a "neutral" rating and a $4.10 target price on the stock. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.31.

Lumen Technologies Stock Up 5.1%

Shares of NYSE LUMN opened at $5.95 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. The business's 50 day moving average is $4.81 and its two-hundred day moving average is $4.32. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $10.33. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of -5.04 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, 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 firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the business earned ($0.13) EPS. The company's quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict 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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