Connor Clark & Lunn Investment Management Ltd. Has $32.19 Million Position in Lumen Technologies, Inc. $LUMN

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,259,155 shares of the technology company’s stock after acquiring an additional 645,656 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.51% of Lumen Technologies worth $32,186,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in LUMN. Credit Capital Investments LLC lifted its stake in shares of Lumen Technologies by 150.0% in the 2nd quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock valued at $657,000 after purchasing an additional 90,000 shares during the last quarter. Prudential Financial Inc. increased its position in Lumen Technologies by 10.5% during the second quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock worth $4,816,000 after buying an additional 104,362 shares during the last quarter. Vanguard Group Inc. increased its position in Lumen Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after buying an additional 1,295,177 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Lumen Technologies by 5.6% during the third quarter. Allianz Asset Management GmbH now owns 10,056,824 shares of the technology company’s stock valued at $61,548,000 after buying an additional 536,324 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Lumen Technologies in the third quarter worth about $18,439,000. 66.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Kathleen E. Johnson bought 78,685 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average price of $6.35 per share, with a total value of $499,649.75. Following the completion of the transaction, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. The trade was a 0.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diankha Linear sold 45,000 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the sale, the director directly owned 198,229 shares of the company’s stock, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LUMN. The Goldman Sachs Group increased their price objective on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a report on Wednesday, February 4th. UBS Group upped their target price on Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.25.

Lumen Technologies Stock Down 3.7%

Shares of NYSE:LUMN opened at $6.41 on Friday. The company has a market cap of $6.56 billion, a price-to-earnings ratio of -3.68 and a beta of 1.56. The business has a 50 day moving average price of $7.82 and a 200 day moving average price of $7.56. Lumen Technologies, Inc. has a twelve month low of $3.01 and a twelve month high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company earned $0.09 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.