Janney Montgomery Scott LLC Has $26,000 Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Janney Montgomery Scott LLC cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 54.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,633 shares of the technology company’s stock after selling 13,959 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Lumen Technologies were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Lumen Technologies by 8.3% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock worth $147,000 after purchasing an additional 995 shares in the last quarter. SVB Wealth LLC raised its stake in shares of Lumen Technologies by 7.9% during the 1st quarter. SVB Wealth LLC now owns 18,743 shares of the technology company’s stock worth $212,000 after purchasing an additional 1,370 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Lumen Technologies by 11.2% during the 1st quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after purchasing an additional 1,837 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Lumen Technologies by 7.5% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 34,135 shares of the technology company’s stock worth $249,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Lumen Technologies by 3.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 84,996 shares of the technology company’s stock worth $958,000 after purchasing an additional 2,547 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Up 5.7 %

Shares of LUMN stock opened at $1.12 on Monday. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $6.76. The firm has a market cap of $1.13 billion, a PE ratio of -0.10 and a beta of 1.04. The stock has a 50 day moving average of $1.41 and a 200-day moving average of $1.80. The company has a quick ratio of 1.23, a current ratio of 1.19 and a debt-to-equity ratio of 8.90.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, October 31st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. Lumen Technologies had a negative net margin of 76.63% and a positive return on equity of 8.25%. On average, equities analysts predict that Lumen Technologies, Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LUMN shares. The Goldman Sachs Group reduced their target price on Lumen Technologies from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. UBS Group reduced their target price on Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada reduced their target price on Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating for the company in a report on Thursday, August 17th. Finally, Morgan Stanley reduced their target price on Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating for the company in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $2.34.

Insider Activity

In other news, CEO Kathleen E. Johnson acquired 1,000,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were acquired at an average cost of $0.97 per share, for a total transaction of $970,000.00. Following the completion of the transaction, the chief executive officer now owns 5,148,592 shares in the company, valued at approximately $4,994,134.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Kathleen E. Johnson purchased 1,000,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were purchased at an average cost of $0.97 per share, for a total transaction of $970,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,148,592 shares of the company’s stock, valued at approximately $4,994,134.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher Stansbury purchased 500,000 shares of the stock in a transaction on Friday, November 3rd. The stock was bought at an average price of $1.10 per share, for a total transaction of $550,000.00. Following the completion of the transaction, the chief financial officer now directly owns 500,000 shares of the company’s stock, valued at $550,000. The disclosure for this purchase can be found here. 0.76% of the stock is currently owned by company insiders.

Lumen Technologies Profile

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.