Nations Financial Group Inc. IA ADV Has $582,000 Stock Holdings in Lumen Technologies, Inc. $LUMN

Key Points

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Nations Financial Group Inc. IA ADV boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 88.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 148,542 shares of the technology company's stock after acquiring an additional 69,825 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Lumen Technologies were worth $582,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its position in Lumen Technologies by 3,825.7% during the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock worth $39,000 after acquiring an additional 7,307 shares during the period. Conning Inc. bought a new stake in shares of Lumen Technologies in the 1st quarter valued at approximately $39,000. OneDigital Investment Advisors LLC bought a new stake in shares of Lumen Technologies in the 1st quarter valued at approximately $41,000. Meeder Advisory Services Inc. bought a new stake in shares of Lumen Technologies in the 1st quarter valued at approximately $41,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Lumen Technologies in the 1st quarter valued at approximately $43,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Performance

Shares of LUMN traded up $0.2850 on Friday, reaching $4.5950. 11,141,458 shares of the stock traded hands, compared to its average volume of 13,130,422. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of -3.89 and a beta of 1.43. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $10.33. The stock's 50-day moving average price is $4.30 and its 200-day moving average price is $4.22.

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. 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 analysts' expectations of $3.11 billion. During the same period in the prior year, the business posted ($0.13) earnings per share. The business's revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. 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 research note on Friday, August 1st. Finally, BNP Paribas upgraded 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Lumen Technologies currently has a consensus rating of "Hold" and an average target price of $5.29.

Insiders Place Their Bets

In other Lumen Technologies news, CFO Christopher Stansbury bought 40,000 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were bought 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 trade represents a 8.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kathleen E. Johnson bought 135,870 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the acquisition, 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 disclosure for this purchase can be found here. Insiders acquired 217,870 shares of company stock worth $859,140 over the last quarter. Company insiders own 2.30% of the company's stock.

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.