Lumen Technologies Sees Unusually Large Options Volume (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of unusually large options trading activity on Thursday. Traders acquired 22,530 call options on the stock. This is an increase of 42% compared to the average daily volume of 15,902 call options.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury purchased 40,000 shares of the stock in a transaction 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 completion of the purchase, the chief financial officer directly owned 535,000 shares of the company’s stock, valued at approximately $2,375,400. This trade represents a 8.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kathleen E. Johnson purchased 135,870 shares of the stock in a transaction on 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 purchase, the chief executive officer directly owned 9,616,947 shares of the company’s stock, valued at $35,486,534.43. The trade was a 1.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 217,870 shares of company stock valued at $859,140 over the last three months. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Front Street Capital Management Inc. lifted its position in Lumen Technologies by 1.1% during the second quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock valued at $52,425,000 after purchasing an additional 132,131 shares during the period. Man Group plc raised its position in shares of Lumen Technologies by 3.3% during the 2nd quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock valued at $50,312,000 after purchasing an additional 364,436 shares during the period. Norges Bank bought a new stake in shares of Lumen Technologies during the 2nd quarter valued at $47,923,000. Invesco Ltd. grew its stake in Lumen Technologies by 6.3% during the second quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after acquiring an additional 652,124 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Lumen Technologies by 8.5% during the second quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock valued at $41,700,000 after acquiring an additional 748,185 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

LUMN has been the topic of a number of analyst reports. Raymond James Financial boosted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. BNP Paribas upgraded shares of Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. The Goldman Sachs Group assumed coverage on shares of Lumen Technologies in a research report on Tuesday, September 2nd. They set a “neutral” rating and a $4.10 price target on the stock. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and an average price target of $5.14.

Lumen Technologies Trading Down 0.8%

NYSE:LUMN opened at $6.09 on Friday. Lumen Technologies has a one year low of $3.01 and a one year high of $10.33. 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’s 50-day simple moving average is $4.55 and its 200 day simple moving average is $4.26. The firm has a market capitalization of $6.25 billion, a P/E ratio of -5.16 and a beta of 1.42.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.21. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.11 billion. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Lumen Technologies’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. As a group, analysts forecast that Lumen Technologies 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.