Lumen Technologies, Inc. $LUMN Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 58.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 216,419 shares of the technology company’s stock after buying an additional 80,019 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Lumen Technologies were worth $848,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its stake in Lumen Technologies by 92.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company’s stock valued at $157,000 after purchasing an additional 19,216 shares during the last quarter. Lazard Asset Management LLC increased its stake in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after purchasing an additional 7,307 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Lumen Technologies in the first quarter valued at $43,000. Cambridge Investment Research Advisors Inc. grew its position in Lumen Technologies by 88.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company’s stock valued at $331,000 after acquiring an additional 39,619 shares during the period. Finally, OneDigital Investment Advisors LLC purchased a new stake in Lumen Technologies during the first quarter valued at about $41,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LUMN has been the subject of a number of research reports. Raymond James Financial boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, BNP Paribas raised Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Lumen Technologies has an average rating of “Hold” and a consensus target price of $5.29.

Insider Activity

In related news, CEO Kathleen E. Johnson bought 135,870 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was bought at an average price 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 approximately $35,486,534.43. This represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher Stansbury purchased 40,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average cost of $4.44 per share, with a total value of $177,600.00. Following the acquisition, the chief financial officer directly owned 535,000 shares of the company’s stock, valued at $2,375,400. The trade was 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 in the last ninety days. Company insiders own 2.30% of the company’s stock.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $4.99 on Tuesday. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $10.33. The business has a 50-day moving average of $4.41 and a 200-day moving average of $4.22. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -4.22 and a beta of 1.42.

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

Lumen Technologies Company Profile

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.