Lumen Technologies, Inc. (NYSE:LUMN) Shares Purchased by Cwm LLC

Cwm LLC grew its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 49.6% in the third quarter, HoldingsChannel reports. The fund owned 15,692 shares of the technology company’s stock after buying an additional 5,202 shares during the quarter. Cwm LLC’s holdings in Lumen Technologies were worth $111,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Xponance Inc. grew its holdings in Lumen Technologies by 4.0% in the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after purchasing an additional 2,487 shares during the period. Arizona State Retirement System grew its stake in shares of Lumen Technologies by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock valued at $311,000 after buying an additional 5,418 shares during the period. GAMMA Investing LLC increased its holdings in shares of Lumen Technologies by 1,901.8% during the 3rd quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after buying an additional 6,504 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Lumen Technologies by 0.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 888,228 shares of the technology company’s stock worth $977,000 after buying an additional 7,922 shares during the period. Finally, Sawgrass Asset Management LLC boosted its holdings in Lumen Technologies by 68.5% in the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after acquiring an additional 9,263 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Up 2.5 %

NYSE LUMN opened at $6.44 on Friday. The stock has a market cap of $6.54 billion, a PE ratio of -0.59 and a beta of 1.19. The business has a 50 day moving average price of $6.19 and a two-hundred day moving average price of $3.30. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $7.83. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51.

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 firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the business posted $0.10 earnings per share. Lumen Technologies’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LUMN shares. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. TD Cowen lifted their price target on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Moffett Nathanson increased their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. 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, the company currently has an average rating of “Hold” and a consensus price target of $4.09.

Insider Activity

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.68% of the company’s stock.

Lumen Technologies 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.