Lumen Technologies, Inc. $LUMN Shares Bought by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 333,348 shares of the technology company’s stock after purchasing an additional 18,681 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Lumen Technologies were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV increased its position in Lumen Technologies by 8.9% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 55,025 shares of the technology company’s stock worth $241,000 after buying an additional 4,500 shares during the period. BSW Wealth Partners increased its holdings in shares of Lumen Technologies by 19.4% in the 2nd quarter. BSW Wealth Partners now owns 215,078 shares of the technology company’s stock worth $942,000 after acquiring an additional 34,895 shares during the period. Mariner Investment Group LLC lifted its position in Lumen Technologies by 200.0% in the 2nd quarter. Mariner Investment Group LLC now owns 75,000 shares of the technology company’s stock valued at $328,000 after purchasing an additional 50,000 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Lumen Technologies by 8.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 609,838 shares of the technology company’s stock valued at $2,670,000 after purchasing an additional 47,542 shares during the period. Finally, Pacific Sage Partners LLC grew its position in Lumen Technologies by 23.3% in the 2nd quarter. Pacific Sage Partners LLC now owns 23,717 shares of the technology company’s stock worth $104,000 after purchasing an additional 4,476 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LUMN has been the subject of several analyst reports. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday. BNP Paribas raised Lumen Technologies to a “hold” rating in a research note on Wednesday, June 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Saturday, September 27th. Finally, Citigroup increased their target price on shares of Lumen Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Thursday, September 25th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.39.

Insider Buying and Selling

In related news, CEO Kathleen E. Johnson purchased 135,870 shares of Lumen Technologies stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average cost of $3.69 per share, with a total value of $501,360.30. Following the completion of the transaction, the chief executive officer directly owned 9,616,947 shares of the company’s stock, valued at $35,486,534.43. This trade represents a 1.43% 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. Also, CFO Christopher Stansbury acquired 40,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $4.44 per share, for a total transaction of $177,600.00. Following the completion of the transaction, the chief financial officer directly owned 535,000 shares of the company’s stock, valued at $2,375,400. This represents a 8.08% increase in their position. The disclosure for this purchase can be found here. Insiders bought 217,870 shares of company stock valued at $859,140 over the last three months. 2.30% of the stock is owned by insiders.

Lumen Technologies Trading Up 9.3%

Shares of Lumen Technologies stock opened at $7.17 on Tuesday. The business has a fifty day simple moving average of $5.07 and a 200-day simple moving average of $4.38. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of -6.08 and a beta of 1.45. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $10.33. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.21. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Lumen Technologies’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.13) earnings per share. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

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.