Lumen Technologies (NYSE:LUMN) Shares Gap Up on Insider Buying Activity

Lumen Technologies, Inc. (NYSE:LUMN) shares gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $1.29, but opened at $1.38. Lumen Technologies shares last traded at $1.34, with a volume of 5,174,953 shares trading hands.

Specifically, Director James Fowler bought 30,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 183,038 shares of the company’s stock, valued at approximately $274,557. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director James Fowler purchased 30,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $1.50 per share, with a total value of $45,000.00. Following the completion of the purchase, the director now directly owns 183,038 shares in the company, valued at approximately $274,557. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director T Michael Glenn acquired 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, with a total value 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 disclosure for this purchase can be found here. Insiders have bought a total of 863,500 shares of company stock worth $1,134,780 over the last ninety days. 1.68% of the stock is currently owned by company insiders.

Lumen Technologies Stock Performance

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 company’s 50 day simple moving average is $1.49 and its 200 day simple moving average is $1.48. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -0.12 and a beta of 1.16.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, April 30th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently made changes to their positions in LUMN. Fidelis Capital Partners LLC grew its stake in shares of Lumen Technologies by 94.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after acquiring an additional 10,764 shares in the last quarter. Choreo LLC lifted its stake in shares of Lumen Technologies by 73.6% in the first quarter. Choreo LLC now owns 167,511 shares of the technology company’s stock worth $261,000 after acquiring an additional 71,000 shares during the period. Argent Advisors Inc. lifted its stake in Lumen Technologies by 98.7% in the first quarter. Argent Advisors Inc. now owns 83,537 shares of the technology company’s stock valued at $130,000 after buying an additional 41,504 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Lumen Technologies by 28.7% during the first quarter. Commonwealth Equity Services LLC now owns 531,792 shares of the technology company’s stock worth $830,000 after purchasing an additional 118,572 shares during the period. Finally, Sage Rhino Capital LLC grew its holdings in Lumen Technologies by 79.8% during the first quarter. Sage Rhino Capital LLC now owns 47,700 shares of the technology company’s stock worth $74,000 after buying an additional 21,172 shares in the last quarter. Institutional investors 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.