Lumen Technologies, Inc. (NYSE:LUMN) CFO Buys $180,180.00 in Stock

Key Points

• Christopher Stansbury, CFO of Lumen Technologies, purchased 42,000 shares at $4.29 each, totaling $180,180, increasing his ownership stake by 8.82% to 518,000 shares.
• Lumen reported a loss of $0.03 EPS for the last quarter, exceeding estimates but showing a 5.4% decline in revenue year-over-year.
• Research analysts have an average rating of "Hold" on LUMN stock, with a consensus target price of $5.29, indicating cautious optimism about future performance.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) CFO Christopher Stansbury purchased 42,000 shares of the stock in a transaction 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 transaction, the chief financial officer owned 518,000 shares of the company's stock, valued at approximately $2,222,220. The trade was a 8.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Christopher Stansbury also recently made the following trade(s):

• On Friday, August 15th, Christopher Stansbury purchased 40,000 shares of Lumen Technologies stock. The stock was bought at an average price of $4.44 per share, with a total value of $177,600.00.

Lumen Technologies Stock Up 2.1%

LUMN traded up $0.09 during midday trading on Friday, reaching $4.43. The company's stock had a trading volume of 11,018,535 shares, compared to its average volume of 12,195,297. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -3.75 and a beta of 1.43. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $10.33. The stock's 50-day moving average is $4.26 and its 200-day moving average is $4.24.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter last year, the company posted ($0.13) earnings per share. The firm's quarterly revenue was down 5.4% on a year-over-year basis. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LUMN. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Lumen Technologies by 92.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company's stock worth $157,000 after purchasing an additional 19,216 shares during the period. Lazard Asset Management LLC raised its stake in shares of 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 in the last quarter. Ritholtz Wealth Management bought a new position in shares of Lumen Technologies during the 1st quarter worth approximately $43,000. Cambridge Investment Research Advisors Inc. increased its stake in Lumen Technologies by 88.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company's stock valued at $331,000 after purchasing an additional 39,619 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in Lumen Technologies during the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors own 66.19% 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.

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