Lumen Technologies, Inc. (NYSE:LUMN) CEO Buys $501,360.30 in Stock

Key Points

• Lumen Technologies CEO Kathleen E. Johnson purchased 135,870 shares at an average price of $3.69, increasing her ownership to 9,616,947 shares valued at approximately $35.49 million.
• The company reported a quarterly EPS of ($0.03), surpassing estimates, but revenues declined by 5.4% year over year to $3.09 billion.
• Institutional investors now own 66.19% of Lumen Technologies, with significant recent investments from firms like Dimensional Fund Advisors and Renaissance Technologies.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) CEO Kathleen E. Johnson acquired 135,870 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Lumen Technologies Stock Up 0.4%

LUMN stock traded up $0.02 during trading hours on Monday, hitting $3.78. The company's stock had a trading volume of 1,223,375 shares, compared to its average volume of 12,119,979. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. The company has a market capitalization of $3.87 billion, a PE ratio of -3.19 and a beta of 1.43. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $10.33. The stock has a 50 day moving average price of $4.25 and a two-hundred day moving average price of $4.26.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, topping 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 business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the company earned ($0.13) EPS. Lumen Technologies's revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Institutional Trading of Lumen Technologies

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Lumen Technologies by 368.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after buying an additional 7,717,596 shares during the period. Nuveen LLC acquired a new stake in Lumen Technologies during the 1st quarter worth approximately $26,469,000. Renaissance Technologies LLC raised its holdings in Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock worth $61,936,000 after buying an additional 5,049,709 shares during the period. Invesco Ltd. raised its holdings in shares of Lumen Technologies by 91.6% in the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company's stock valued at $40,285,000 after purchasing an additional 4,911,803 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Lumen Technologies by 474.8% in the fourth quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock valued at $30,503,000 after purchasing an additional 4,745,040 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LUMN has been the subject of a number of research analyst reports. Raymond James Financial raised their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $5.29.

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.