Lumen Technologies, Inc. (NYSE:LUMN) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its position in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 25.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,861 shares of the technology company’s stock after acquiring an additional 67,249 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Lumen Technologies were worth $2,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LUMN. Truvestments Capital LLC acquired a new position in shares of Lumen Technologies during the second quarter worth about $25,000. Parkside Financial Bank & Trust lifted its position in shares of Lumen Technologies by 184.2% during the second quarter. Parkside Financial Bank & Trust now owns 2,865 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,857 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Lumen Technologies during the second quarter worth $31,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Lumen Technologies during the third quarter worth $32,000. Finally, CX Institutional acquired a new position in shares of Lumen Technologies during the second quarter worth $50,000. 76.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LUMN has been the topic of several recent analyst reports. Citigroup cut their price target on Lumen Technologies from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 13th. Morgan Stanley cut their price target on Lumen Technologies from $9.50 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, October 24th. JPMorgan Chase & Co. cut their price target on shares of Lumen Technologies from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, November 3rd. Wells Fargo & Company cut shares of Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 price target on the stock. in a report on Wednesday, October 5th. Finally, Royal Bank of Canada cut their price target on shares of Lumen Technologies from $11.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, October 20th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.00.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director Steven T. Clontz bought 5,000 shares of the stock in a transaction that occurred on Tuesday, November 29th. The shares were purchased at an average cost of $5.34 per share, for a total transaction of $26,700.00. Following the transaction, the director now directly owns 340,029 shares in the company, valued at $1,815,754.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director T Michael Glenn bought 20,000 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $5.92 per share, with a total value of $118,400.00. Following the completion of the acquisition, the director now directly owns 136,414 shares in the company, valued at $807,570.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven T. Clontz bought 5,000 shares of the stock in a transaction that occurred on Tuesday, November 29th. The shares were purchased at an average cost of $5.34 per share, for a total transaction of $26,700.00. Following the completion of the acquisition, the director now owns 340,029 shares of the company’s stock, valued at $1,815,754.86. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,500 shares of company stock worth $224,600 in the last three months. 0.76% of the stock is owned by company insiders.

Lumen Technologies Stock Down 2.3 %

LUMN stock opened at $5.90 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.73. Lumen Technologies, Inc. has a fifty-two week low of $4.99 and a fifty-two week high of $12.93. The firm’s 50-day simple moving average is $5.62 and its 200 day simple moving average is $7.97. The stock has a market cap of $6.10 billion, a PE ratio of 2.95 and a beta of 0.99.

Lumen Technologies (NYSE:LUMNGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The technology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.22). Lumen Technologies had a return on equity of 13.58% and a net margin of 10.95%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.41 billion. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post 1.18 EPS for the current year.

Lumen Technologies Company Profile

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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

Further Reading

Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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