Caitong International Asset Management Co. Ltd Has $29,000 Stock Holdings in Lumen Technologies, Inc. $LUMN

Caitong International Asset Management Co. Ltd raised its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 3,527.9% during the second quarter, HoldingsChannel reports. The firm owned 6,639 shares of the technology company’s stock after acquiring an additional 6,456 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Lumen Technologies were worth $29,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LUMN. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lumen Technologies by 263.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 279,789 shares of the technology company’s stock valued at $1,097,000 after purchasing an additional 202,884 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Lumen Technologies by 92.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company’s stock worth $157,000 after purchasing an additional 19,216 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Lumen Technologies by 88.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company’s stock valued at $331,000 after purchasing an additional 39,619 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Lumen Technologies by 85.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 16,703 shares of the technology company’s stock valued at $65,000 after purchasing an additional 7,688 shares in the last quarter. Finally, Revisor Wealth Management LLC acquired a new stake in shares of Lumen Technologies during the first quarter valued at about $95,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

LUMN stock opened at $8.07 on Monday. The stock has a 50-day moving average price of $5.92 and a 200-day moving average price of $4.70. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $10.33. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The firm has a market cap of $8.28 billion, a PE ratio of -6.84 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data 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. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Saturday. The Goldman Sachs Group lifted their price target on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Citigroup lifted their price target on Lumen Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, Raymond James Financial raised their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.39.

Insider Activity

In other Lumen Technologies news, CFO Christopher Stansbury acquired 42,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $4.29 per share, with a total value of $180,180.00. Following the transaction, the chief financial officer owned 518,000 shares in the company, valued at approximately $2,222,220. The trade was a 8.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kathleen E. Johnson acquired 135,870 shares of the 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 owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. This represents a 1.43% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 217,870 shares of company stock valued at $859,140. Corporate insiders own 2.30% of the company’s stock.

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.