Insider Buying: Lumen Technologies, Inc. (NYSE:LUMN) CEO Purchases $960,000.00 in Stock

Lumen Technologies, Inc. (NYSE:LUMN) CEO Kathleen E. Johnson acquired 750,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $1.28 per share, with a total value of $960,000.00. Following the transaction, the chief executive officer now directly owns 7,756,290 shares in the company, valued at approximately $9,928,051.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lumen Technologies Price Performance

NYSE LUMN opened at $1.32 on Monday. Lumen Technologies, Inc. has a twelve month low of $0.78 and a twelve month high of $2.70. The company has a debt-to-equity ratio of 36.89, a quick ratio of 1.35 and a current ratio of 1.03. The stock has a market capitalization of $1.34 billion, a PE ratio of -0.12 and a beta of 1.16. The stock has a 50-day simple moving average of $1.49 and a 200 day simple moving average of $1.48.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm posted $0.10 EPS. Lumen Technologies’s revenue for the quarter was down 12.0% on a year-over-year basis. Research analysts anticipate that Lumen Technologies, Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Lumen Technologies

Several large investors have recently made changes to their positions in LUMN. Guardian Capital LP increased its stake in Lumen Technologies by 53.5% during the fourth quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock valued at $41,000 after acquiring an additional 7,717 shares during the period. ORG Partners LLC increased its stake in Lumen Technologies by 54.0% during the fourth quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock valued at $41,000 after acquiring an additional 7,920 shares during the period. Compagnie Lombard Odier SCmA increased its stake in Lumen Technologies by 36.4% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the technology company’s stock valued at $55,000 after acquiring an additional 8,000 shares during the period. Belpointe Asset Management LLC increased its stake in Lumen Technologies by 52.1% during the third quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after acquiring an additional 8,405 shares during the period. Finally, Triumph Capital Management increased its stake in Lumen Technologies by 4.2% during the fourth quarter. Triumph Capital Management now owns 221,410 shares of the technology company’s stock valued at $405,000 after acquiring an additional 8,867 shares during the period. Institutional investors and hedge funds own 66.19% 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.