Investors Asset Management of Georgia Inc. GA ADV Boosts Holdings in Lumen Technologies, Inc. $LUMN

Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 8.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,025 shares of the technology company’s stock after acquiring an additional 4,500 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Lumen Technologies were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in shares of Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after buying an additional 3,391 shares during the period. Conning Inc. bought a new stake in shares of Lumen Technologies during the 1st quarter worth approximately $39,000. OneDigital Investment Advisors LLC purchased a new position in Lumen Technologies during the 1st quarter valued at $41,000. Meeder Advisory Services Inc. bought a new position in Lumen Technologies in the 1st quarter valued at $41,000. Finally, Smartleaf Asset Management LLC increased its stake in Lumen Technologies by 60.8% in the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after purchasing an additional 4,102 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Trading Up 2.9%

Shares of NYSE:LUMN opened at $6.57 on Monday. The company has a market capitalization of $6.74 billion, a PE ratio of -5.56 and a beta of 1.45. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $10.33. The business’s fifty day simple moving average is $5.02 and its 200-day simple moving average is $4.37.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.21. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.11 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) earnings per share. As a group, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUMN. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Saturday, September 27th. The Goldman Sachs Group upped their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday. BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Citigroup raised their price objective on Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and an average price target of $5.39.

Insider Activity at Lumen Technologies

In other news, CFO Christopher Stansbury bought 42,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $4.29 per share, with a total value of $180,180.00. Following the completion of the transaction, the chief financial officer directly owned 518,000 shares of the company’s stock, valued at approximately $2,222,220. The trade was a 8.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kathleen E. Johnson purchased 135,870 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was purchased at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the acquisition, the chief executive officer directly owned 9,616,947 shares of the company’s stock, valued at approximately $35,486,534.43. The trade was a 1.43% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 217,870 shares of company stock valued at $859,140. 2.30% of the stock is currently owned by company insiders.

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.