James Fowler Purchases 10,000 Shares of Lumen Technologies, Inc. (NYSE:LUMN) Stock

Lumen Technologies, Inc. (NYSE:LUMN) Director James Fowler acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the transaction, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lumen Technologies Stock Up 14.1 %

Shares of LUMN stock opened at $5.38 on Thursday. The stock has a market cap of $5.46 billion, a P/E ratio of -0.49 and a beta of 1.14. Lumen Technologies, Inc. has a 52 week low of $0.78 and a 52 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. The company’s fifty day simple moving average is $3.33 and its two-hundred day simple moving average is $2.07.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. Analysts predict that Lumen Technologies, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Moffett Nathanson boosted their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. UBS Group boosted their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen upped their target price on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Bank of America upped their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Four analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.74.

Institutional Trading of Lumen Technologies

Several hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in shares of Lumen Technologies during the 1st quarter valued at about $468,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Lumen Technologies by 22.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock valued at $3,198,000 after buying an additional 401,399 shares in the last quarter. Palestra Capital Management LLC raised its position in shares of Lumen Technologies by 71.0% during the 4th quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock valued at $20,437,000 after buying an additional 4,637,585 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Lumen Technologies by 247.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock valued at $1,784,000 after buying an additional 814,474 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Lumen Technologies by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company’s stock valued at $1,291,000 after buying an additional 36,559 shares in the last quarter. 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.