154,409 Shares in Lumen Technologies, Inc. $LUMN Acquired by Private Advisory Group LLC

Private Advisory Group LLC acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 154,409 shares of the technology company’s stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LUMN. Spire Wealth Management raised its position in shares of Lumen Technologies by 30.3% during the fourth quarter. Spire Wealth Management now owns 46,477 shares of the technology company’s stock worth $361,000 after acquiring an additional 10,800 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in Lumen Technologies during the 4th quarter worth about $108,000. Murphy Middleton Hinkle & Parker Inc. acquired a new position in Lumen Technologies during the 4th quarter valued at about $68,000. SG Americas Securities LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter worth approximately $2,709,000. Finally, Fulton Bank N.A. bought a new stake in shares of Lumen Technologies during the fourth quarter worth approximately $323,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on LUMN shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. UBS Group raised 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. Citigroup reduced their target price on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Finally, The Goldman Sachs Group boosted their target price on Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.25.

Insider Activity at Lumen Technologies

In related news, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the completion of the transaction, the director directly owned 198,229 shares in the company, valued at approximately $1,564,026.81. The trade was a 18.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kathleen E. Johnson bought 78,685 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $6.35 per share, with a total value of $499,649.75. Following the completion of 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 SEC filing for this purchase provides additional information. 2.30% of the stock is currently owned by insiders.

Lumen Technologies Stock Down 0.2%

Shares of NYSE LUMN opened at $6.66 on Monday. Lumen Technologies, Inc. has a twelve month low of $3.01 and a twelve month high of $11.95. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -3.82 and a beta of 1.56. The company’s fifty day moving average is $7.52 and its 200-day moving average is $7.73.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $0.09 EPS. The firm’s revenue 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.

Lumen Technologies Company 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.