McAdam LLC Buys 48,384 Shares of Lumen Technologies, Inc. $LUMN

Key Points

• McAdam LLC increased its stake in Lumen Technologies, Inc. by 74.5%, holding 113,350 shares worth $444,000 after acquiring an additional 48,384 shares in the 1st quarter.
• Multiple hedge funds have significantly modified their positions in Lumen Technologies, with Lazard Asset Management's stake increasing by 3,825.7% in the last quarter.
• The company recently beat earnings estimates with an EPS of ($0.03) for the last quarter, although revenue declined by 5.4% year-over-year.

McAdam LLC increased its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 74.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,350 shares of the technology company's stock after acquiring an additional 48,384 shares during the period. McAdam LLC's holdings in Lumen Technologies were worth $444,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Lumen Technologies during the fourth quarter valued at $953,000. Deutsche Bank AG lifted its holdings in shares of Lumen Technologies by 182.3% during the fourth quarter. Deutsche Bank AG now owns 1,589,213 shares of the technology company's stock worth $8,439,000 after buying an additional 1,026,248 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in Lumen Technologies during the fourth quarter worth $3,082,000. Ethic Inc. bought a new position in Lumen Technologies in the fourth quarter valued at about $120,000. Finally, Focus Partners Wealth boosted its holdings in Lumen Technologies by 922.5% during the fourth quarter. Focus Partners Wealth now owns 174,505 shares of the technology company's stock worth $927,000 after buying an additional 157,439 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Insiders Place Their Bets

In other Lumen Technologies news, CFO Christopher Stansbury bought 42,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $180,180.00. Following the acquisition, the chief financial officer directly owned 518,000 shares of the company's stock, valued at $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kathleen E. Johnson bought 135,870 shares of Lumen Technologies stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 217,870 shares of company stock worth $859,140. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

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

Lumen Technologies Stock Down 5.0%

Shares of LUMN stock traded down $0.30 during trading hours on Tuesday, reaching $5.56. 6,422,173 shares of the company's stock were exchanged, compared to its average volume of 12,603,123. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $10.33. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The company has a market cap of $5.70 billion, a price-to-earnings ratio of -4.70 and a beta of 1.42. The stock's 50 day moving average is $4.60 and its 200-day moving average is $4.27.

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

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.