504,800 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 504,800 shares of the technology company’s stock, valued at approximately $924,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in shares of Lumen Technologies by 20.6% in the third quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock worth $31,344,000 after purchasing an additional 3,713,167 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lumen Technologies by 2.1% in the third quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock valued at $166,709,000 after buying an additional 2,404,674 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Lumen Technologies by 137.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,085,381 shares of the technology company’s stock valued at $2,961,000 after buying an additional 1,207,329 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Lumen Technologies in the third quarter valued at $142,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Lumen Technologies by 33.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,611,863 shares of the technology company’s stock valued at $2,289,000 after buying an additional 401,850 shares during the period. Institutional investors own 66.19% of the company’s stock.

Insider Activity

In related news, Director James Fowler bought 30,000 shares of Lumen Technologies stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $1.50 per share, with a total value of $45,000.00. Following the completion of the acquisition, the director now directly owns 183,038 shares in the company, valued at approximately $274,557. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director James Fowler bought 30,000 shares of Lumen Technologies stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $1.50 per share, with a total value of $45,000.00. Following the completion of the acquisition, the director now directly owns 183,038 shares in the company, valued at approximately $274,557. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director T Michael Glenn bought 50,000 shares of Lumen Technologies stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $1.47 per share, with a total value of $73,500.00. Following the completion of the acquisition, the director now owns 272,019 shares of the company’s stock, valued at $399,867.93. The disclosure for this purchase can be found here. Insiders bought a total of 113,500 shares of company stock worth $174,780 over the last 90 days. 1.68% of the stock is currently owned by company insiders.

Lumen Technologies Trading Down 6.2 %

Shares of Lumen Technologies stock opened at $1.21 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 47.56. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -0.12 and a beta of 1.10. The business has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $1.48. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $2.70.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.45 billion. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The company’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.24 EPS for the current fiscal year.

Lumen Technologies 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.