Hussman Strategic Advisors Inc. Acquires New Position in Lumen Technologies, Inc. $LUMN

Hussman Strategic Advisors Inc. acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 147,000 shares of the technology company’s stock, valued at approximately $1,129,000.

A number of other large investors also recently bought and sold shares of LUMN. Crossmark Global Holdings Inc. increased its holdings in shares of Lumen Technologies by 2.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock valued at $479,000 after acquiring an additional 1,230 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Lumen Technologies by 1.7% during the first quarter. Lazard Asset Management LLC now owns 78,690 shares of the technology company’s stock worth $547,000 after purchasing an additional 1,294 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Lumen Technologies by 4.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 31,875 shares of the technology company’s stock worth $222,000 after purchasing an additional 1,393 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Lumen Technologies by 7.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,821 shares of the technology company’s stock worth $162,000 after purchasing an additional 1,417 shares during the period. Finally, Citizens Financial Group Inc. RI increased its stake in Lumen Technologies by 13.6% during the first quarter. Citizens Financial Group Inc. RI now owns 12,174 shares of the technology company’s stock valued at $85,000 after purchasing an additional 1,457 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. UBS Group increased their price objective on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Zacks Research downgraded Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $7.86.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $6.70 on Friday. The firm has a market capitalization of $6.91 billion, a PE ratio of -6.56 and a beta of 1.78. Lumen Technologies, Inc. has a 1-year low of $4.27 and a 1-year high of $11.95. The business’s fifty day moving average price is $7.06 and its two-hundred day moving average price is $7.76.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.74 billion. The business’s revenue was down 9.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. Equities research analysts expect that Lumen Technologies, Inc. will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kathleen E. Johnson bought 100,000 shares of Lumen Technologies stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $6.13 per share, with a total value of $613,000.00. Following the purchase, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at approximately $613,000. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

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.