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Townsquare Capital LLC boosted its holdings in Lumen Technologies, Inc. (NYSE:LUMN – Free Report) by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,403 shares of the technology company’s stock after purchasing an additional 14,587 shares during the period. Townsquare Capital LLC’s holdings in Lumen Technologies were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in LUMN. Lazard Asset Management LLC grew its position in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after purchasing an additional 7,307 shares in the last quarter. Conning Inc. bought a new position in shares of Lumen Technologies in the 1st quarter valued at about $39,000. OneDigital Investment Advisors LLC bought a new position in shares of Lumen Technologies in the 1st quarter valued at about $41,000. Meeder Advisory Services Inc. bought a new position in Lumen Technologies in the first quarter valued at approximately $41,000. Finally, Ritholtz Wealth Management bought a new position in Lumen Technologies in the first quarter valued at approximately $43,000. Institutional investors own 66.19% of the company’s stock.
Insider Buying and Selling
In other news, CFO Christopher Stansbury purchased 40,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average cost of $4.44 per share, for a total transaction of $177,600.00. Following the purchase, the chief financial officer directly owned 535,000 shares of the company’s stock, valued at $2,375,400. This trade represents a 8.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kathleen E. Johnson purchased 135,870 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at $35,486,534.43. This trade represents a 1.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 217,870 shares of company stock valued at $859,140. Corporate insiders own 2.30% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on LUMN. Raymond James Financial raised their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.29.
Get Our Latest Research Report on LUMN
Lumen Technologies Stock Performance
Shares of NYSE LUMN opened at $4.70 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The stock has a 50 day moving average of $4.28 and a 200-day moving average of $4.23. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $10.33. The company has a market capitalization of $4.82 billion, a P/E ratio of -3.98 and a beta of 1.43.
Lumen Technologies (NYSE:LUMN – Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.21. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the firm posted ($0.13) EPS. Lumen Technologies’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.
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.
See Also
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