Naples Money Management LLC Purchases New Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Naples Money Management LLC purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 56,200 shares of the technology company’s stock, valued at approximately $103,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quilter Plc bought a new position in shares of Lumen Technologies during the first quarter worth $5,461,500,000. Money Concepts Capital Corp boosted its position in shares of Lumen Technologies by 327.7% during the fourth quarter. Money Concepts Capital Corp now owns 6,766 shares of the technology company’s stock worth $35,000 after purchasing an additional 5,184 shares in the last quarter. Covestor Ltd boosted its position in shares of Lumen Technologies by 359.2% during the first quarter. Covestor Ltd now owns 7,875 shares of the technology company’s stock worth $89,000 after purchasing an additional 6,160 shares in the last quarter. CreativeOne Wealth LLC bought a new position in shares of Lumen Technologies during the fourth quarter worth $53,000. Finally, DC Investments Management LLC bought a new position in shares of Lumen Technologies during the first quarter worth $117,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Down 0.8 %

Shares of NYSE LUMN traded down $0.01 during midday trading on Friday, reaching $1.31. 7,946,274 shares of the stock were exchanged, compared to its average volume of 12,963,654. The business has a 50-day simple moving average of $1.55 and a two-hundred day simple moving average of $1.48. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -0.13 and a beta of 1.10. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $2.70. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.11. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Lumen Technologies had a negative net margin of 70.74% and a positive return on equity of 4.85%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.24 EPS for the current year.

Insider Activity at Lumen Technologies

In related news, Director T Michael Glenn acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $1.47 per share, with a total value of $73,500.00. Following the transaction, the director now owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lumen Technologies news, Director James Fowler purchased 30,000 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $1.50 per share, for a total transaction of $45,000.00. Following the purchase, the director now owns 183,038 shares of the company’s stock, valued at $274,557. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director T Michael Glenn purchased 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 113,500 shares of company stock valued at $174,780. 1.68% of the stock is owned by corporate insiders.

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.