Mariner Investment Group LLC Boosts Holdings in Lumen Technologies, Inc. $LUMN

Mariner Investment Group LLC raised its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 200.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 75,000 shares of the technology company's stock after buying an additional 50,000 shares during the quarter. Mariner Investment Group LLC's holdings in Lumen Technologies were worth $328,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in Lumen Technologies by 8.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 609,838 shares of the technology company's stock valued at $2,670,000 after purchasing an additional 47,542 shares in the last quarter. Pacific Sage Partners LLC lifted its holdings in shares of Lumen Technologies by 23.3% in the 2nd quarter. Pacific Sage Partners LLC now owns 23,717 shares of the technology company's stock valued at $104,000 after buying an additional 4,476 shares during the period. McAdam LLC boosted its stake in shares of Lumen Technologies by 52.0% in the second quarter. McAdam LLC now owns 172,330 shares of the technology company's stock valued at $755,000 after buying an additional 58,980 shares in the last quarter. Ballentine Partners LLC grew its holdings in Lumen Technologies by 21.3% during the second quarter. Ballentine Partners LLC now owns 26,673 shares of the technology company's stock worth $117,000 after acquiring an additional 4,680 shares during the period. Finally, Compagnie Lombard Odier SCmA raised its position in Lumen Technologies by 100.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 200,000 shares of the technology company's stock worth $876,000 after acquiring an additional 100,000 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $5.93 on Friday. 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 market cap of $6.09 billion, a price-to-earnings ratio of -5.03 and a beta of 1.42. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $10.33. The firm has a 50 day moving average price of $4.84 and a 200 day moving average price of $4.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.21. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.11 billion. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Lumen Technologies's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) EPS. Sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup boosted their target price on shares of Lumen Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research report on Thursday. Raymond James Financial boosted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. The Goldman Sachs Group initiated coverage on shares of Lumen Technologies in a research report on Tuesday, September 2nd. They set a "neutral" rating and a $4.10 price target for the company. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Lumen Technologies presently has a consensus rating of "Hold" and an average target price of $5.31.

Insider Activity

In other Lumen Technologies news, CFO Christopher Stansbury purchased 40,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the completion of the acquisition, the chief financial officer owned 535,000 shares of the company's stock, valued at approximately $2,375,400. This represents a 8.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kathleen E. Johnson purchased 135,870 shares of Lumen Technologies stock in a transaction on Tuesday, August 5th. The shares were acquired at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the transaction, the chief executive officer owned 9,616,947 shares of the company's stock, valued at $35,486,534.43. This represents a 1.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 217,870 shares of company stock valued at $859,140 over the last 90 days. 2.30% of the stock is currently owned by insiders.

About Lumen Technologies

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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