Total Clarity Wealth Management Inc. Invests $1.17 Million in Lumen Technologies, Inc. $LUMN

Total Clarity Wealth Management Inc. acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 191,420 shares of the technology company’s stock, valued at approximately $1,171,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in Lumen Technologies by 15.5% in the third quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after buying an additional 968 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Lumen Technologies by 24.5% during the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,051 shares during the period. Arkadios Wealth Advisors lifted its position in Lumen Technologies by 10.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock valued at $87,000 after acquiring an additional 1,340 shares in the last quarter. UMB Bank n.a. boosted its stake in Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,351 shares during the period. Finally, Phoenix Financial Ltd. raised its stake in shares of Lumen Technologies by 2.8% in the 3rd quarter. Phoenix Financial Ltd. now owns 53,515 shares of the technology company’s stock valued at $328,000 after purchasing an additional 1,473 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LUMN has been the subject of several recent research reports. Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. UBS Group upped their price target on Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Royal Bank Of Canada lifted their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Raymond James Financial reissued a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. Finally, Citigroup lowered their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.25.

Lumen Technologies Trading Down 4.6%

NYSE LUMN opened at $7.11 on Thursday. The firm has a market capitalization of $7.28 billion, a P/E ratio of -4.08 and a beta of 1.51. The firm’s fifty day moving average price is $8.04 and its two-hundred day moving average price is $7.40. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95.

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

Insider Buying and Selling

In related news, CEO Kathleen E. Johnson bought 78,685 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average price of $6.35 per share, for a total transaction of $499,649.75. Following the purchase, the chief executive officer owned 8,562,582 shares in the company, valued at $54,372,395.70. This represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diankha Linear sold 45,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 198,229 shares in the company, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

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.