Raymond James Financial Services Advisors Inc. Sells 30,836 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Raymond James Financial Services Advisors Inc. lowered its position in Lumen Technologies, Inc. (NYSE:LUMN) by 47.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,420 shares of the technology company’s stock after selling 30,836 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Lumen Technologies were worth $63,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LUMN. DekaBank Deutsche Girozentrale acquired a new position in Lumen Technologies in the third quarter worth about $30,000. Belpointe Asset Management LLC grew its stake in shares of Lumen Technologies by 52.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after purchasing an additional 8,405 shares during the period. QCM Cayman Ltd. acquired a new position in shares of Lumen Technologies in the 3rd quarter worth approximately $37,000. FAS Wealth Partners Inc. lifted its position in shares of Lumen Technologies by 45.9% during the 3rd 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. Finally, Compagnie Lombard Odier SCmA boosted its stake in Lumen Technologies by 36.4% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the technology company’s stock valued at $55,000 after buying an additional 8,000 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Insider Activity at Lumen Technologies

In other news, Director James Fowler bought 33,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $1.68 per share, for a total transaction of $56,280.00. Following the completion of the transaction, the director now directly owns 216,538 shares in the company, valued at approximately $363,783.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lumen Technologies news, Director James Fowler acquired 33,500 shares of Lumen Technologies stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $1.68 per share, with a total value of $56,280.00. Following the completion of the purchase, the director now owns 216,538 shares in the company, valued at $363,783.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director T Michael Glenn purchased 50,000 shares of Lumen Technologies stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the transaction, 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 purchased a total of 113,500 shares of company stock valued at $174,780 over the last quarter. Corporate insiders own 1.68% of the company’s stock.

Lumen Technologies Trading Up 0.4 %

Shares of Lumen Technologies stock opened at $1.22 on Friday. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $2.70. The stock has a market capitalization of $1.23 billion, a P/E ratio of -0.12 and a beta of 1.10. The company has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.48. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 47.56.

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