Lumen Technologies Target of Unusually High Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) saw some unusual options trading on Monday. Investors acquired 78,615 call options on the stock. This represents an increase of approximately 39% compared to the typical volume of 56,695 call options.

Insider Activity

In related news, Director James Fowler acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUMN. Millennium Management LLC raised its position in Lumen Technologies by 129.8% during the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after purchasing an additional 4,436,710 shares in the last quarter. Front Street Capital Management Inc. grew its stake in shares of Lumen Technologies by 30.1% during the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock worth $12,827,000 after buying an additional 2,697,423 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Lumen Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock worth $187,673,000 after buying an additional 1,975,400 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Lumen Technologies during the third quarter worth $10,062,000. Finally, AQR Capital Management LLC grew its stake in shares of Lumen Technologies by 52.5% during the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock worth $3,712,000 after buying an additional 1,246,289 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on LUMN. Bank of America lifted their price target on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. TD Cowen lifted their price target on Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. UBS Group raised their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and an average price target of $4.09.

Lumen Technologies Stock Down 6.5 %

NYSE LUMN opened at $6.14 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. Lumen Technologies has a 1-year low of $0.78 and a 1-year high of $7.83. The company has a 50 day moving average of $6.14 and a 200-day moving average of $3.19. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -0.56 and a beta of 1.19.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. On average, equities research analysts expect that Lumen Technologies will post -0.18 earnings per share for the current fiscal year.

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.