Aristides Capital LLC Purchases Shares of 117,448 Lumen Technologies, Inc. $LUMN

Aristides Capital LLC acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 117,448 shares of the technology company’s stock, valued at approximately $719,000.

Other large investors have also made changes to their positions in the company. Credit Capital Investments LLC grew its position in Lumen Technologies by 150.0% in the second quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock valued at $657,000 after acquiring an additional 90,000 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Lumen Technologies by 10.5% during the second quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock valued at $4,816,000 after acquiring an additional 104,362 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Lumen Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock valued at $694,942,000 after acquiring an additional 1,295,177 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Lumen Technologies by 5.6% during the third quarter. Allianz Asset Management GmbH now owns 10,056,824 shares of the technology company’s stock worth $61,548,000 after acquiring an additional 536,324 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Lumen Technologies in the third quarter worth about $18,439,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LUMN. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Royal Bank Of Canada upped their target price on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. The Goldman Sachs Group raised their price target on shares of Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Raymond James Financial restated a “market perform” rating on shares of Lumen Technologies in a research note on Wednesday, February 4th. Finally, Citigroup cut their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lumen Technologies has a consensus rating of “Hold” and an average price target of $7.25.

Insider Activity at Lumen Technologies

In related news, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the transaction, the director owned 198,229 shares in the company, valued at $1,564,026.81. The trade was a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kathleen E. Johnson acquired 78,685 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average price of $6.35 per share, with a total value of $499,649.75. Following the completion of the purchase, the chief executive officer owned 8,562,582 shares in the company, valued at $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.30% of the company’s stock.

Lumen Technologies Stock Down 3.7%

Shares of NYSE:LUMN opened at $6.41 on Friday. The company has a market cap of $6.56 billion, a PE ratio of -3.68 and a beta of 1.56. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $11.95. The firm has a 50-day simple moving average of $7.82 and a 200 day simple moving average of $7.56.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. Lumen Technologies’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.