Alaska Permanent Fund Corp Decreases Position in Lumen Technologies, Inc. (NYSE:LUMN)

Alaska Permanent Fund Corp lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 16.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,079,416 shares of the technology company’s stock after selling 215,884 shares during the period. Alaska Permanent Fund Corp’s holdings in Lumen Technologies were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Palestra Capital Management LLC lifted its holdings in Lumen Technologies by 788.4% during the 3rd quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock worth $9,273,000 after buying an additional 5,795,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lumen Technologies by 34.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,521,752 shares of the technology company’s stock valued at $29,141,000 after acquiring an additional 5,239,967 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Lumen Technologies by 20.6% during the 3rd quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock worth $31,344,000 after acquiring an additional 3,713,167 shares in the last quarter. Invesco Ltd. grew its holdings in Lumen Technologies by 16.0% in the third quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock valued at $31,627,000 after purchasing an additional 3,071,405 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Lumen Technologies by 2.1% in the third quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock valued at $166,709,000 after purchasing an additional 2,404,674 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, Director T Michael Glenn purchased 50,000 shares of Lumen Technologies stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the transaction, the director now owns 272,019 shares in the company, valued at approximately $399,867.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Lumen Technologies news, Director James Fowler purchased 30,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $1.50 per share, with a total value of $45,000.00. Following the completion of the acquisition, the director now owns 183,038 shares in the company, valued at approximately $274,557. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director T Michael Glenn acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, with a total value of $73,500.00. Following the completion of the acquisition, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 113,500 shares of company stock valued at $174,780. Insiders own 1.68% of the company’s stock.

Lumen Technologies Trading Up 2.9 %

Shares of LUMN stock opened at $1.25 on Friday. Lumen Technologies, Inc. has a twelve month low of $0.78 and a twelve month high of $2.70. The firm has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.48. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.45 billion. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.24 earnings per share for the current fiscal 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.