Lumen Technologies (NYSE:LUMN) Stock Price Up 9.8% After Insider Buying Activity

Key Points

• Lumen Technologies' stock price rose by 9.8% on Monday, trading as high as $4.68, following significant insider buying by CFO Christopher Stansbury.
• Stansbury purchased a total of 82,000 shares in two transactions, increasing his ownership to 535,000 shares, which is valued at approximately $2.37 million.
• Analyst ratings for Lumen Technologies are mixed, with a consensus hold rating and an average price target of $5.29, despite recent concerns over the company's financial performance.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s share price traded up 9.8% during trading on Monday following insider buying activity. The company traded as high as $4.68 and last traded at $4.87. 1,294,645 shares changed hands during trading, a decline of 89% from the average session volume of 12,125,651 shares. The stock had previously closed at $4.43.

Specifically, CFO Christopher Stansbury purchased 40,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average cost of $4.44 per share, for a total transaction of $177,600.00. Following the purchase, the chief financial officer directly owned 535,000 shares of the company's stock, valued at $2,375,400. This trade represents a 8.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christopher Stansbury bought 42,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $4.29 per share, with a total value of $180,180.00. Following the completion of the transaction, the chief financial officer owned 518,000 shares in the company, valued at approximately $2,222,220. This trade represents a 8.82% increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of brokerages have commented on LUMN. BNP Paribas raised Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Raymond James Financial upped their price target on Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a research report 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. According to MarketBeat, Lumen Technologies currently has an average rating of "Hold" and a consensus price target of $5.29.

Lumen Technologies Stock Up 5.8%

The business has a 50-day simple moving average of $4.27 and a two-hundred day simple moving average of $4.23. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of -3.97 and a beta of 1.43.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released 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. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.11 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. Lumen Technologies's quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. As a group, equities analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Lumen Technologies by 92.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company's stock valued at $157,000 after acquiring an additional 19,216 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after buying an additional 7,307 shares during the last quarter. Ritholtz Wealth Management bought a new stake in Lumen Technologies in the first quarter valued at $43,000. Cambridge Investment Research Advisors Inc. lifted its stake in Lumen Technologies by 88.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company's stock valued at $331,000 after buying an additional 39,619 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in Lumen Technologies in the first quarter valued at $41,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

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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