Lumen Technologies, Inc. (NYSE:LUMN) CEO Buys $960,000.00 in Stock

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) CEO Kathleen E. Johnson bought 750,000 shares of the business's stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $1.28 per share, for a total transaction of $960,000.00. Following the purchase, the chief executive officer now directly owns 7,756,290 shares in the company, valued at $9,928,051.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lumen Technologies Price Performance

Lumen Technologies stock traded up $0.02 during midday trading on Friday, hitting $1.32. The company's stock had a trading volume of 14,127,256 shares, compared to its average volume of 12,819,438. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $2.70. The company has a market capitalization of $1.33 billion, a PE ratio of -0.12 and a beta of 1.16. The company has a quick ratio of 1.35, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. The stock's 50-day moving average price is $1.49 and its 200-day moving average price is $1.48.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01). The company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. Lumen Technologies's revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. Analysts anticipate that Lumen Technologies, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Palestra Capital Management LLC raised its stake in shares of Lumen Technologies by 788.4% in the 3rd quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company's stock valued at $9,273,000 after buying an additional 5,795,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Lumen Technologies by 28.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company's stock worth $48,136,000 after acquiring an additional 5,782,249 shares during the last quarter. Hsbc Holdings PLC boosted its position in Lumen Technologies by 20.6% in the 3rd quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company's stock valued at $31,344,000 after buying an additional 3,713,167 shares during the last quarter. Invesco Ltd. boosted its holdings in Lumen Technologies by 16.0% in the third quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company's stock valued at $31,627,000 after acquiring an additional 3,071,405 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Lumen Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company's stock worth $166,709,000 after purchasing an additional 2,404,674 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

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.