Townsquare Capital LLC Buys 14,587 Shares of Lumen Technologies, Inc. $LUMN

Townsquare Capital LLC increased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 21.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,403 shares of the technology company’s stock after purchasing an additional 14,587 shares during the period. Townsquare Capital LLC’s holdings in Lumen Technologies were worth $323,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Northern Trust Corp raised its stake in shares of Lumen Technologies by 8.6% during the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock worth $65,602,000 after buying an additional 982,206 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lumen Technologies by 368.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock valued at $52,111,000 after acquiring an additional 7,717,596 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Lumen Technologies by 12.6% during the 1st quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company’s stock valued at $34,387,000 after acquiring an additional 982,038 shares during the last quarter. Millennium Management LLC raised its position in shares of Lumen Technologies by 474.8% during the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company’s stock valued at $30,503,000 after acquiring an additional 4,745,040 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Lumen Technologies by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 5,053,232 shares of the technology company’s stock valued at $19,809,000 after acquiring an additional 131,851 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Up 6.1%

Shares of Lumen Technologies stock opened at $4.70 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 $4.28 and a two-hundred day moving average of $4.23. The company has a market capitalization of $4.82 billion, a P/E ratio of -3.98 and a beta of 1.43. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) 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 period in the prior year, the company earned ($0.13) earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on LUMN. BNP Paribas upgraded Lumen Technologies to a “hold” rating in a report on Wednesday, June 25th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Raymond James Financial upped their price target on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.29.

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen E. Johnson acquired 135,870 shares of the 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. The trade was a 1.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher Stansbury acquired 40,000 shares of the stock in a transaction dated Friday, August 15th. The shares were bought at an average cost of $4.44 per share, with a total value of $177,600.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 217,870 shares of company stock valued at $859,140 in the last three months. 2.30% of the stock is owned by insiders.

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.