Lee Danner & Bass Inc. Trims Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Lee Danner & Bass Inc. reduced its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 83.0% during the 4th quarter, Holdings Channel reports. The fund owned 80,470 shares of the technology company’s stock after selling 392,423 shares during the period. Lee Danner & Bass Inc.’s holdings in Lumen Technologies were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Palestra Capital Management LLC increased its stake in Lumen Technologies by 788.4% in the third quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock valued at $9,273,000 after purchasing an additional 5,795,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lumen Technologies by 34.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,521,752 shares of the technology company’s stock valued at $29,141,000 after purchasing an additional 5,239,967 shares during the last quarter. Hsbc Holdings PLC increased its stake in Lumen Technologies by 20.6% in the third quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock valued at $31,344,000 after purchasing an additional 3,713,167 shares during the last quarter. Invesco Ltd. increased its stake in Lumen Technologies by 16.0% during the third quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock worth $31,627,000 after acquiring an additional 3,071,405 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Lumen Technologies by 2.1% during the third quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock worth $166,709,000 after acquiring an additional 2,404,674 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director T Michael Glenn bought 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director now owns 272,019 shares in the company, valued at $399,867.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lumen Technologies news, Director James Fowler purchased 33,500 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $1.68 per share, with a total value of $56,280.00. Following the completion of the acquisition, the director now owns 216,538 shares of the company’s stock, valued at approximately $363,783.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director T Michael Glenn purchased 50,000 shares of Lumen Technologies stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, with a total value of $73,500.00. Following the acquisition, the director now directly owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 113,500 shares of company stock worth $174,780. 1.68% of the stock is currently owned by corporate insiders.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $1.37 on Tuesday. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35. The business has a 50-day moving average of $1.54 and a two-hundred day moving average of $1.48. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $2.70.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.24 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.