Farther Finance Advisors LLC Has $26,000 Stock Holdings in Lumen Technologies, Inc. $LUMN

Farther Finance Advisors LLC lifted its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 132.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,954 shares of the technology company’s stock after purchasing an additional 3,391 shares during the quarter. Farther Finance Advisors LLC’s holdings in Lumen Technologies were worth $26,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Conning Inc. acquired a new position in Lumen Technologies during the 1st quarter worth approximately $39,000. OneDigital Investment Advisors LLC acquired a new position in Lumen Technologies during the 1st quarter worth approximately $41,000. Meeder Advisory Services Inc. acquired a new position in Lumen Technologies during the 1st quarter worth approximately $41,000. Ritholtz Wealth Management acquired a new position in Lumen Technologies during the 1st quarter worth approximately $43,000. Finally, Smartleaf Asset Management LLC boosted its position in Lumen Technologies by 60.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after acquiring an additional 4,102 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LUMN has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday. Citigroup upped their price target on Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, September 25th. BNP Paribas upgraded Lumen Technologies to a “hold” rating in a research note on Wednesday, June 25th. Raymond James Financial upped their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.39.

Insiders Place Their Bets

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

Lumen Technologies Stock Up 2.2%

LUMN opened at $7.06 on Thursday. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $10.33. The stock’s fifty day simple moving average is $5.17 and its 200 day simple moving average is $4.42. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The stock has a market cap of $7.24 billion, a PE ratio of -5.98 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm posted ($0.13) EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current 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.