SG Americas Securities LLC Buys Shares of 348,603 Lumen Technologies, Inc. $LUMN

Key Points

• SG Americas Securities LLC bought a new stake of 348,603 shares in Lumen (~$2.71 million) during Q4, and institutional investors now own about 66.19% of the company.
• Insider activity: CEO Kathleen Johnson bought 78,685 shares at $6.35 (~$499,650) while director Diankha Linear sold 45,000 shares at $7.89; insiders hold roughly 2.30% of the stock.
• Analyst outlook: the consensus rating is "Hold" with a $7.25 price target; Lumen traded near $6.97 with a $7.18 billion market cap and recently reported an EPS beat ($0.23 vs. -$0.21) but revenue fell 8.7% year‑over‑year.

SG Americas Securities LLC bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 348,603 shares of the technology company's stock, valued at approximately $2,709,000.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of Lumen Technologies by 49.1% during the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company's stock worth $25,000 after purchasing an additional 1,351 shares during the last quarter. MRP Capital Investments LLC increased its stake in Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company's stock worth $28,000 after buying an additional 4,000 shares during the period. Fifth Third Bancorp increased its stake in Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company's stock worth $33,000 after buying an additional 1,051 shares during the period. Bessemer Group Inc. lifted its holdings in Lumen Technologies by 15.5% during the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company's stock valued at $43,000 after buying an additional 968 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its position in Lumen Technologies by 17,960.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 6,863 shares of the technology company's stock valued at $45,000 after buying an additional 6,825 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LUMN shares. UBS Group raised their target price on shares of Lumen Technologies from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Thursday, February 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. Zacks Research upgraded Lumen Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 8th. Citigroup lowered their target price on Lumen Technologies from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, February 5th. Finally, The Goldman Sachs Group raised their price target on Lumen Technologies from $5.50 to $7.25 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.25.

Lumen Technologies Stock Down 0.2%

Shares of LUMN stock opened at $6.97 on Friday. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of -4.01 and a beta of 1.52. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $11.95. The company's 50 day moving average is $7.36 and its 200 day moving average is $7.73.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. The firm's revenue was down 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. Analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, Director Diankha Linear sold 45,000 shares of Lumen Technologies stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the transaction, the director owned 198,229 shares in the company, valued at $1,564,026.81. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kathleen E. Johnson bought 78,685 shares of Lumen Technologies stock in a transaction on Thursday, February 5th. The stock was purchased at an average price of $6.35 per share, with a total value of $499,649.75. Following the completion of the acquisition, the chief executive officer directly owned 8,562,582 shares of the company's stock, valued at $54,372,395.70. This represents a 0.93% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is owned by company insiders.

Lumen Technologies Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company's core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.

Want to see what other hedge funds are holding LUMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumen Technologies, Inc. (NYSE:LUMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.