Assenagon Asset Management S.A. Has $4.14 Million Stock Holdings in Lumen Technologies, Inc. $LUMN

Assenagon Asset Management S.A. boosted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 945,536 shares of the technology company’s stock after purchasing an additional 10,150 shares during the quarter. Assenagon Asset Management S.A. owned 0.09% of Lumen Technologies worth $4,141,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP bought a new stake in shares of Lumen Technologies in the 4th quarter valued at $54,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Lumen Technologies by 7.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,684,888 shares of the technology company’s stock valued at $14,257,000 after acquiring an additional 197,534 shares during the period. Forum Financial Management LP increased its holdings in shares of Lumen Technologies by 72.5% in the fourth quarter. Forum Financial Management LP now owns 27,552 shares of the technology company’s stock worth $146,000 after acquiring an additional 11,581 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Lumen Technologies by 1,127.7% during the fourth quarter. Mackenzie Financial Corp now owns 790,031 shares of the technology company’s stock worth $4,195,000 after purchasing an additional 725,681 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in shares of Lumen Technologies during the 4th quarter valued at about $398,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kathleen E. Johnson purchased 135,870 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of $3.69 per share, with a total value of $501,360.30. Following the completion of the transaction, the chief executive officer owned 9,616,947 shares of the company’s stock, valued at $35,486,534.43. The trade was a 1.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher Stansbury acquired 40,000 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was purchased at an average cost of $4.44 per share, with a total value of $177,600.00. Following the transaction, the chief financial officer owned 535,000 shares in the company, valued at approximately $2,375,400. This trade represents a 8.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 217,870 shares of company stock worth $859,140. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LUMN. BNP Paribas raised Lumen Technologies to a “hold” rating in a research note on Wednesday, June 25th. The Goldman Sachs Group began coverage on shares of Lumen Technologies in a report on Tuesday, September 2nd. They issued a “neutral” rating and a $4.10 price target for the company. Raymond James Financial raised their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.14.

Lumen Technologies Stock Down 2.2%

Lumen Technologies stock opened at $5.67 on Thursday. The company has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $4.32. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $10.33. The company has a market cap of $5.82 billion, a P/E ratio of -4.81 and a beta of 1.42.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.21. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the company earned ($0.13) EPS. Lumen Technologies’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal 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.