Raymond James & Associates Lowers Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Raymond James & Associates cut its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,905 shares of the technology company’s stock after selling 29,603 shares during the quarter. Raymond James & Associates’ holdings in Lumen Technologies were worth $461,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Lumen Technologies during the third quarter valued at $951,000. State of Alaska Department of Revenue lifted its position in Lumen Technologies by 3.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 627,581 shares of the technology company’s stock valued at $891,000 after acquiring an additional 19,631 shares in the last quarter. FAS Wealth Partners Inc. boosted its stake in Lumen Technologies by 45.9% during the 3rd quarter. FAS Wealth Partners Inc. now owns 26,717 shares of the technology company’s stock valued at $38,000 after purchasing an additional 8,401 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Lumen Technologies by 3.1% in the third quarter. Maryland State Retirement & Pension System now owns 371,273 shares of the technology company’s stock worth $527,000 after purchasing an additional 11,291 shares during the last quarter. Finally, Bailard Inc. boosted its position in shares of Lumen Technologies by 18.6% during the third quarter. Bailard Inc. now owns 162,415 shares of the technology company’s stock valued at $231,000 after buying an additional 25,457 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler purchased 33,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $56,280.00. Following the purchase, the director now directly owns 216,538 shares in the company, valued at approximately $363,783.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director T Michael Glenn acquired 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the transaction, the director now directly owns 272,019 shares of the company’s stock, valued at $399,867.93. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Fowler purchased 33,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $1.68 per share, for a total transaction of $56,280.00. Following the completion of the acquisition, the director now owns 216,538 shares of the company’s stock, valued at $363,783.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 113,500 shares of company stock valued at $174,780. 1.68% of the stock is owned by company insiders.

Lumen Technologies Price Performance

LUMN opened at $1.22 on Friday. The company’s 50-day simple moving average is $1.52 and its two-hundred day simple moving average is $1.48. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $1.23 billion, a P/E ratio of -0.12 and a beta of 1.10. Lumen Technologies, Inc. has a 52-week low of $0.78 and a 52-week high of $2.70.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 6th. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.45 billion. Lumen Technologies had a negative net margin of 70.74% and a positive return on equity of 4.85%. The firm’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, analysts predict that Lumen Technologies, Inc. will post -0.24 EPS for the current year.

Lumen Technologies 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.