Hussman Strategic Advisors Inc. Buys Shares of 147,000 Lumen Technologies, Inc. $LUMN

Hussman Strategic Advisors Inc. purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 147,000 shares of the technology company’s stock, valued at approximately $1,129,000.

Several other institutional investors and hedge funds also recently modified their holdings of LUMN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 valued at $2,363,000 after purchasing an additional 26,305 shares in the last quarter. Empowered Funds LLC increased its stake in Lumen Technologies by 26.8% during the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock valued at $1,066,000 after buying an additional 57,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $11,702,000 after buying an additional 300,328 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Lumen Technologies by 15.8% during the 2nd quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company’s stock worth $524,000 after buying an additional 16,332 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Lumen Technologies by 6.3% in the 2nd quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock worth $47,869,000 after acquiring an additional 652,124 shares during the period. Institutional investors own 66.19% of the company’s stock.

Insider Activity

In related news, CEO Kathleen E. Johnson purchased 100,000 shares of Lumen Technologies stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $6.13 per share, with a total value of $613,000.00. Following the completion of the transaction, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $613,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Lumen Technologies Stock Performance

NYSE LUMN opened at $6.70 on Friday. 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 is $7.06 and its two-hundred day moving average is $7.76. The stock has a market capitalization of $6.91 billion, a P/E ratio of -6.56 and a beta of 1.78.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup decreased their price objective on shares of Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company dropped their target price on Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Friday, July 17th. JPMorgan Chase & Co. increased their price target on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Nine equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lumen Technologies has an average rating of “Reduce” and a consensus target price of $7.86.

About Lumen Technologies

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.