Lumen Technologies, Inc. $LUMN Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 29.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 366,345 shares of the technology company’s stock after selling 155,447 shares during the period. Quantbot Technologies LP’s holdings in Lumen Technologies were worth $2,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LUMN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Lumen Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after buying an additional 26,305 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Lumen Technologies by 26.8% during the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after acquiring an additional 57,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Lumen Technologies by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock valued at $11,702,000 after acquiring an additional 300,328 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Lumen Technologies by 54.1% in the second quarter. Nisa Investment Advisors LLC now owns 40,444 shares of the technology company’s stock valued at $177,000 after purchasing an additional 14,202 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in Lumen Technologies by 99.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 25,000 shares of the technology company’s stock worth $110,000 after purchasing an additional 12,488 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director Diankha Linear sold 45,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 198,229 shares in the company, valued at $1,564,026.81. This represents a 18.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kathleen E. Johnson purchased 78,685 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was acquired at an average price of $6.35 per share, with a total value of $499,649.75. Following the purchase, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. This represents a 0.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUMN. Royal Bank Of Canada raised their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Wall Street Zen cut Lumen Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. The Goldman Sachs Group lifted their target price on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.25.

Lumen Technologies Trading Up 1.6%

LUMN opened at $6.91 on Wednesday. The stock’s 50-day moving average price is $7.97 and its 200 day moving average price is $7.50. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $11.95. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -3.97 and a beta of 1.56.

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

Lumen Technologies 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.