Lumen Technologies, Inc. (NYSE:LUMN) CEO Kathleen E. Johnson Purchases 750,000 Shares

Lumen Technologies, Inc. (NYSE:LUMN) CEO Kathleen E. Johnson bought 750,000 shares of the 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 completion of the purchase, the chief executive officer now owns 7,756,290 shares in the company, valued at approximately $9,928,051.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Lumen Technologies Trading Up 1.9 %

Shares of LUMN stock opened at $1.32 on Friday. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $2.70. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.35. The firm has a fifty day moving average of $1.49 and a 200-day moving average of $1.48.

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

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds have recently made changes to their positions in LUMN. Strategies Wealth Advisors LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $26,000. Brighton Jones LLC acquired a new position in shares of Lumen Technologies during the 4th quarter worth about $27,000. HighPoint Advisor Group LLC acquired a new stake in Lumen Technologies in the 4th quarter valued at about $27,000. DekaBank Deutsche Girozentrale acquired a new position in Lumen Technologies during the third quarter worth approximately $30,000. Finally, Belpointe Asset Management LLC raised its stake in Lumen Technologies by 52.1% in the third quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after buying an additional 8,405 shares during the period. 66.19% of the stock is owned by institutional investors.

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.