Bank of New York Mellon Corp Has $21.47 Million Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Bank of New York Mellon Corp lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMNFree Report) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,500,743 shares of the technology company’s stock after buying an additional 765,158 shares during the quarter. Bank of New York Mellon Corp’s holdings in Lumen Technologies were worth $21,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Yousif Capital Management LLC lifted its stake in Lumen Technologies by 2.7% in the second quarter. Yousif Capital Management LLC now owns 628,132 shares of the technology company’s stock valued at $1,420,000 after buying an additional 16,266 shares during the period. Bank of Montreal Can acquired a new stake in Lumen Technologies in the second quarter worth $366,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Lumen Technologies by 89.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,210,013 shares of the technology company’s stock valued at $2,735,000 after buying an additional 570,318 shares during the period. Portside Wealth Group LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter valued at $37,000. Finally, Truist Financial Corp raised its stake in Lumen Technologies by 9.7% during the 2nd quarter. Truist Financial Corp now owns 173,750 shares of the technology company’s stock worth $393,000 after buying an additional 15,379 shares during the period. 69.72% of the stock is owned by institutional investors.

Lumen Technologies Trading Up 0.8 %

Shares of NYSE:LUMN opened at $1.19 on Monday. The company has a debt-to-equity ratio of 8.90, a current ratio of 1.19 and a quick ratio of 1.19. The company’s 50-day moving average price is $1.37 and its two-hundred day moving average price is $1.76. The stock has a market capitalization of $1.20 billion, a PE ratio of -0.10, a price-to-earnings-growth ratio of 0.16 and a beta of 1.04. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $6.50.

Lumen Technologies (NYSE:LUMNGet Free Report) last released its earnings results on Tuesday, October 31st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. Lumen Technologies had a positive return on equity of 8.25% and a negative net margin of 76.63%. On average, equities analysts forecast that Lumen Technologies, Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LUMN. The Goldman Sachs Group dropped their price target on Lumen Technologies from $3.00 to $1.50 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley cut their price objective on shares of Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating on the stock in a research report on Tuesday, September 5th. Royal Bank of Canada cut their price target on Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating on the stock in a report on Thursday, August 17th. Finally, UBS Group reduced their price objective on Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.09.

View Our Latest Report on Lumen Technologies

Insider Activity

In other news, CEO Kathleen E. Johnson bought 1,000,000 shares of the stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 5,148,592 shares in the company, valued at $4,994,134.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lumen Technologies news, CEO Kathleen E. Johnson acquired 1,000,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were purchased at an average price of $0.97 per share, for a total transaction of $970,000.00. Following the completion of the purchase, the chief executive officer now directly owns 5,148,592 shares of the company’s stock, valued at $4,994,134.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Christopher Stansbury acquired 500,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was acquired at an average cost of $1.10 per share, with a total value of $550,000.00. Following the completion of the transaction, the chief financial officer now owns 500,000 shares of the company’s stock, valued at $550,000. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,570,000 shares of company stock valued at $1,618,000. 0.76% of the stock is owned by insiders.

Lumen Technologies Company Profile

(Free Report)

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.

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

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