Russell Investments Group Ltd. Boosts Stock Holdings in Lumen Technologies, Inc. $LUMN

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Lumen Technologies by 270.1% during the 1st quarter, acquiring an additional 211,983 shares for a total of $1,139,000 in holdings.
• Lumen Technologies' CEO Kathleen E. Johnson bought 135,870 shares worth over $500,000, while the CFO also made a purchase of 42,000 shares, reflecting confidence in the company's outlook.
• Several analysts have recently upgraded Lumen Technologies’ stock, with Raymond James Financial raising the target price from $4.50 to $5.00 and assigning an "outperform" rating.

Russell Investments Group Ltd. lifted its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 270.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290,475 shares of the technology company's stock after purchasing an additional 211,983 shares during the period. Russell Investments Group Ltd.'s holdings in Lumen Technologies were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of LUMN. Dimensional Fund Advisors LP grew its stake in Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock valued at $52,111,000 after acquiring an additional 7,717,596 shares in the last quarter. Nuveen LLC purchased a new position in Lumen Technologies during the first quarter valued at $26,469,000. Invesco Ltd. grew its stake in shares of Lumen Technologies by 91.6% in the 1st quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company's stock worth $40,285,000 after buying an additional 4,911,803 shares in the last quarter. Millennium Management LLC grew its stake in shares of Lumen Technologies by 474.8% in the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock worth $30,503,000 after buying an additional 4,745,040 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Lumen Technologies by 182.3% in the 4th 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 in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 0.7%

Lumen Technologies stock traded down $0.04 during mid-day trading on Monday, hitting $4.99. The company's stock had a trading volume of 9,533,574 shares, compared to its average volume of 12,613,233. The company has a 50 day moving average of $4.40 and a 200-day moving average of $4.22. The stock has a market cap of $5.12 billion, a PE ratio of -4.22 and a beta of 1.42. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $3.11 billion. During the same quarter last year, the business posted ($0.13) EPS. The firm's revenue for the quarter was down 5.4% on a year-over-year basis. On average, research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BNP Paribas raised shares of Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Raymond James Financial lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $5.29.

Insider Transactions at Lumen Technologies

In related news, CEO Kathleen E. Johnson acquired 135,870 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 directly owned 9,616,947 shares of the company's stock, valued at $35,486,534.43. This represents a 1.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher Stansbury bought 40,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were acquired at an average cost of $4.44 per share, for a total transaction of $177,600.00. Following the transaction, the chief financial officer directly owned 535,000 shares in the company, valued at approximately $2,375,400. This trade represents a 8.08% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 217,870 shares of company stock valued at $859,140 in the last quarter. 2.30% of the stock is currently owned by company insiders.

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.