Insider Buying: Lumen Technologies, Inc. (NYSE:LUMN) CEO Acquires 750,000 Shares of Stock

Lumen Technologies, Inc. (NYSE:LUMN) CEO Kathleen E. Johnson purchased 750,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $1.28 per share, for a total transaction of $960,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,756,290 shares in the company, valued at approximately $9,928,051.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $1.32 on Friday. The company has a debt-to-equity ratio of 36.89, a quick ratio of 1.35 and a current ratio of 1.03. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -0.12 and a beta of 1.16. Lumen Technologies, Inc. has a 52 week low of $0.78 and a 52 week high of $2.70. The firm’s 50-day simple moving average is $1.49 and its two-hundred day simple moving average is $1.48.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Strategies Wealth Advisors LLC purchased a new stake in Lumen Technologies in the 4th quarter worth about $26,000. Brighton Jones LLC purchased a new position in shares of Lumen Technologies in the fourth quarter worth about $27,000. HighPoint Advisor Group LLC bought a new stake in shares of Lumen Technologies in the fourth quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Lumen Technologies during the 3rd quarter valued at approximately $30,000. Finally, Belpointe Asset Management LLC boosted its holdings in Lumen Technologies by 52.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock worth $35,000 after buying an additional 8,405 shares during the period. Hedge funds and other institutional investors own 66.19% 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.