International Assets Investment Management LLC Increases Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

International Assets Investment Management LLC lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 69.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,943 shares of the technology company’s stock after acquiring an additional 60,028 shares during the period. International Assets Investment Management LLC’s holdings in Lumen Technologies were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LUMN. Palestra Capital Management LLC grew its position in Lumen Technologies by 788.4% in the 3rd quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock valued at $9,273,000 after buying an additional 5,795,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Lumen Technologies by 34.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,521,752 shares of the technology company’s stock valued at $29,141,000 after buying an additional 5,239,967 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Lumen Technologies by 20.6% during the 3rd 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. Invesco Ltd. boosted its position in shares of Lumen Technologies by 16.0% during the 3rd quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock worth $31,627,000 after purchasing an additional 3,071,405 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Lumen Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock worth $166,709,000 after purchasing an additional 2,404,674 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lumen Technologies

In related news, Director T Michael Glenn acquired 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director T Michael Glenn bought 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the acquisition, the director now owns 272,019 shares of the company’s stock, valued at $399,867.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Fowler purchased 33,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $1.68 per share, with a total value of $56,280.00. Following the acquisition, the director now owns 216,538 shares in the company, valued at $363,783.84. The disclosure for this purchase can be found here. In the last quarter, insiders bought 113,500 shares of company stock valued at $174,780. 1.68% of the stock is owned by insiders.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $1.21 on Friday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -0.12 and a beta of 1.10. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $2.70. The company’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.48.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue was down 7.4% on a year-over-year basis. 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.