Mackenzie Financial Corp Purchases 345,098 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Mackenzie Financial Corp increased its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 536.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 409,448 shares of the technology company’s stock after acquiring an additional 345,098 shares during the quarter. Mackenzie Financial Corp’s holdings in Lumen Technologies were worth $749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategies Wealth Advisors LLC purchased a new stake in Lumen Technologies in the fourth quarter valued at about $26,000. DekaBank Deutsche Girozentrale acquired a new stake in Lumen Technologies in the 3rd quarter worth approximately $30,000. Belpointe Asset Management LLC grew its position in Lumen Technologies by 52.1% during the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock worth $35,000 after purchasing an additional 8,405 shares during the last quarter. QCM Cayman Ltd. acquired a new position in Lumen Technologies during the 3rd quarter valued at approximately $37,000. Finally, FAS Wealth Partners Inc. lifted its stake in shares of Lumen Technologies by 45.9% during the third quarter. FAS Wealth Partners Inc. now owns 26,717 shares of the technology company’s stock worth $38,000 after buying an additional 8,401 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

NYSE LUMN opened at $1.21 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -0.12 and a beta of 1.10. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s fifty day moving average price is $1.52 and its 200 day moving average price is $1.48. Lumen Technologies, Inc. has a 1 year low of $0.78 and a 1 year high of $2.70.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. The company 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 firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. As a group, equities research analysts forecast that Lumen Technologies, Inc. will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In other news, Director T Michael Glenn bought 50,000 shares of Lumen Technologies stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the purchase, the director now directly owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James Fowler acquired 33,500 shares of Lumen Technologies stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $1.68 per share, for a total transaction of $56,280.00. Following the purchase, the director now owns 216,538 shares of the company’s stock, valued at approximately $363,783.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director T Michael Glenn acquired 50,000 shares of Lumen Technologies stock in a transaction on Monday, February 26th. The shares were bought at an average price of $1.47 per share, with a total value of $73,500.00. Following the purchase, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The disclosure for this purchase can be found here. Insiders bought 113,500 shares of company stock worth $174,780 in the last 90 days. Insiders own 1.68% of the company’s stock.

Lumen Technologies Company 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.