Blair William & Co. IL Purchases New Position in Lumen Technologies, Inc. $LUMN

Blair William & Co. IL purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,125 shares of the technology company’s stock, valued at approximately $114,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its holdings in Lumen Technologies by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 301,498 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 5,062 shares during the last quarter. Gainplan LLC bought a new position in Lumen Technologies during the 2nd quarter valued at about $53,000. KLP Kapitalforvaltning AS lifted its holdings in Lumen Technologies by 11.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 204,400 shares of the technology company’s stock valued at $895,000 after purchasing an additional 21,200 shares during the last quarter. Mraz Amerine & Associates Inc. lifted its holdings in Lumen Technologies by 5.9% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 333,348 shares of the technology company’s stock valued at $1,460,000 after purchasing an additional 18,681 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in Lumen Technologies by 8.9% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 55,025 shares of the technology company’s stock valued at $241,000 after purchasing an additional 4,500 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury purchased 40,000 shares of the stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the transaction, the chief financial officer directly owned 535,000 shares in the company, valued at $2,375,400. This represents a 8.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kathleen E. Johnson acquired 135,870 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at $35,486,534.43. The trade was a 1.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 217,870 shares of company stock valued at $859,140. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. BNP Paribas upgraded shares of Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Citigroup raised their price objective on shares of Lumen Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Thursday, September 25th. Raymond James Financial raised their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average price target of $5.39.

Lumen Technologies Stock Down 1.9%

Shares of NYSE:LUMN opened at $6.89 on Monday. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $10.33. The company has a 50 day moving average of $5.59 and a 200-day moving average of $4.56. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of -5.83 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The company had revenue of $4.05 billion during the quarter. On average, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current 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.