LSV Asset Management Sells 1,287,587 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

LSV Asset Management lowered its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 80.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,300 shares of the technology company's stock after selling 1,287,587 shares during the period. LSV Asset Management's holdings in Lumen Technologies were worth $570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LUMN. Strategies Wealth Advisors LLC purchased a new stake in Lumen Technologies in the 4th quarter worth approximately $26,000. Brighton Jones LLC acquired a new stake in Lumen Technologies during the fourth quarter valued at $27,000. DekaBank Deutsche Girozentrale purchased a new position in Lumen Technologies in the third quarter valued at about $30,000. Belpointe Asset Management LLC raised its stake in shares of Lumen Technologies by 52.1% during the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company's stock worth $35,000 after purchasing an additional 8,405 shares in the last quarter. Finally, QCM Cayman Ltd. acquired a new stake in shares of Lumen Technologies during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Insider Transactions at Lumen Technologies

In other news, Director T Michael Glenn purchased 50,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $1.47 per share, with a total value of $73,500.00. Following the completion of the transaction, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Lumen Technologies news, Director James Fowler bought 33,500 shares of the stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $1.68 per share, with a total value of $56,280.00. Following the acquisition, the director now directly owns 216,538 shares of the company's stock, valued at approximately $363,783.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director T Michael Glenn purchased 50,000 shares of the company's stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director now owns 272,019 shares in the company, valued at $399,867.93. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 833,500 shares of company stock worth $1,089,780. 1.68% of the stock is owned by corporate insiders.

Lumen Technologies Stock Down 2.2 %

NYSE:LUMN traded down $0.03 during mid-day trading on Friday, reaching $1.31. The stock had a trading volume of 6,812,683 shares, compared to its average volume of 10,008,583. The stock has a market cap of $1.33 billion, a P/E ratio of -0.12 and a beta of 1.16. The business's 50 day moving average is $1.46 and its 200 day moving average is $1.48. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $2.70.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01). The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.38 billion. Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The firm's revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

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.