Lumen Technologies, Inc. (NYSE:LUMN) CFO Christopher Stansbury Acquires 40,000 Shares

Key Points

• Lumen Technologies CFO Christopher Stansbury purchased 40,000 shares of the company's stock at an average cost of $4.44 per share, increasing his total holdings to 535,000 shares valued at approximately $2.375 million.
• The company's quarterly earnings report showed a loss of ($0.03) earnings per share, surpassing analysts' expectations of ($0.24), despite a year-over-year revenue decline of 5.4%.
• Lumen Technologies currently holds a consensus rating of "Hold" from analysts, with a target price raised to $5.00 by Raymond James Financial.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) CFO Christopher Stansbury acquired 40,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $4.44 per share, for a total transaction of $177,600.00. Following the acquisition, the chief financial officer owned 535,000 shares of the company's stock, valued at $2,375,400. This represents a 8.08% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, August 14th, Christopher Stansbury acquired 42,000 shares of Lumen Technologies stock. The stock was purchased at an average cost of $4.29 per share, with a total value of $180,180.00.

Lumen Technologies Price Performance

Lumen Technologies stock traded up $0.09 during trading hours on Friday, hitting $4.43. 11,018,535 shares of the company traded hands, compared to its average volume of 12,195,297. The firm has a market cap of $4.55 billion, a P/E ratio of -3.75 and a beta of 1.43. 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 firm's 50-day simple moving average is $4.26 and its two-hundred day simple moving average is $4.24. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $10.33.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Lumen Technologies

Several institutional investors have recently made changes to their positions in the stock. DCM Advisors LLC acquired a new stake in Lumen Technologies in the second quarter valued at approximately $741,000. Sender Co & Partners Inc. acquired a new stake in Lumen Technologies in the second quarter valued at approximately $76,000. Voleon Capital Management LP lifted its stake in Lumen Technologies by 270.2% in the second quarter. Voleon Capital Management LP now owns 375,233 shares of the technology company's stock valued at $1,644,000 after acquiring an additional 273,884 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Lumen Technologies by 32.1% in the second quarter. Smartleaf Asset Management LLC now owns 14,331 shares of the technology company's stock valued at $65,000 after acquiring an additional 3,484 shares during the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new stake in Lumen Technologies in the second quarter valued at approximately $125,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.

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