Lumen Technologies Target of Unusually Large Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of some unusual options trading on Wednesday. Stock traders purchased 22,224 call options on the company. Thisrepresentsanincreaseofapproximately72% compared to the typical volume of 12,905 call options.

Analyst Ratings Changes

LUMN has been the topic of several recent analyst reports. Raymond James Financial lifted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and a consensus target price of $5.29.

Insider Transactions at Lumen Technologies

In related news, CFO Christopher Stansbury purchased 42,000 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the purchase, the chief financial officer owned 518,000 shares of the company’s stock, valued at approximately $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kathleen E. Johnson purchased 135,870 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $3.69 per share, with a total value of $501,360.30. Following the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. The trade was a 1.43% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 217,870 shares of company stock valued at $859,140 in the last quarter. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Lumen Technologies by 92.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company’s stock valued at $157,000 after purchasing an additional 19,216 shares in the last quarter. Lazard Asset Management LLC grew its position in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock worth $39,000 after acquiring an additional 7,307 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Lumen Technologies in the first quarter worth $43,000. Cambridge Investment Research Advisors Inc. grew its position in Lumen Technologies by 88.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company’s stock worth $331,000 after acquiring an additional 39,619 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in Lumen Technologies in the first quarter worth $41,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Trading Up 12.7%

Shares of LUMN stock opened at $5.29 on Thursday. The company’s fifty day simple moving average is $4.36 and its two-hundred day simple moving average is $4.22. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. Lumen Technologies has a 1 year low of $3.01 and a 1 year high of $10.33. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -4.48 and a beta of 1.43.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.21. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the previous year, the firm posted ($0.13) EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, analysts anticipate that Lumen Technologies will post -0.87 earnings per share for the current year.

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.