Credit Capital Investments LLC Buys 90,000 Shares of Lumen Technologies, Inc. $LUMN

Credit Capital Investments LLC raised its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 150.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 150,000 shares of the technology company’s stock after buying an additional 90,000 shares during the period. Lumen Technologies comprises 0.9% of Credit Capital Investments LLC’s holdings, making the stock its 17th largest position. Credit Capital Investments LLC’s holdings in Lumen Technologies were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. HB Wealth Management LLC raised its position in shares of Lumen Technologies by 23.6% in the 1st quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock valued at $54,000 after acquiring an additional 2,619 shares during the period. Farther Finance Advisors LLC raised its holdings in Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after purchasing an additional 3,391 shares during the period. Natixis Advisors LLC raised its holdings in Lumen Technologies by 5.1% in the first quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company’s stock worth $277,000 after purchasing an additional 3,426 shares during the period. LPL Financial LLC boosted its position in shares of Lumen Technologies by 1.0% during the first quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock worth $1,490,000 after purchasing an additional 3,927 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Lumen Technologies by 60.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock valued at $43,000 after buying an additional 4,102 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LUMN has been the topic of several recent analyst reports. Raymond James Financial lifted their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday. Citigroup downgraded shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Friday, October 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.97.

Lumen Technologies Stock Down 7.6%

Shares of Lumen Technologies stock opened at $8.55 on Thursday. The firm has a market cap of $8.77 billion, a PE ratio of -7.24 and a beta of 1.45. The business’s 50 day simple moving average is $7.37 and its 200 day simple moving average is $5.34. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm had revenue of $4.05 billion during the quarter. On average, analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lumen Technologies news, CFO Christopher Stansbury purchased 40,000 shares of the stock in a transaction on Friday, August 15th. The shares were purchased at an average cost of $4.44 per share, for a total transaction of $177,600.00. Following the purchase, the chief financial officer owned 535,000 shares of the company’s stock, valued at approximately $2,375,400. This represents a 8.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

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.