Compagnie Lombard Odier SCmA Sells 110,000 Shares of Lumen Technologies, Inc. $LUMN

Compagnie Lombard Odier SCmA decreased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 84.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the technology company’s stock after selling 110,000 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Lumen Technologies were worth $155,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LUMN. Norges Bank acquired a new position in shares of Lumen Technologies during the second quarter valued at about $47,923,000. Curi Capital LLC acquired a new stake in Lumen Technologies during the second quarter worth about $14,144,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Lumen Technologies during the third quarter worth about $18,439,000. Penn Capital Management Company LLC bought a new position in Lumen Technologies during the third quarter valued at about $16,837,000. Finally, AIGH Capital Management LLC acquired a new position in Lumen Technologies in the 3rd quarter valued at approximately $15,606,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson acquired 78,685 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the acquisition, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. This represents a 0.93% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the transaction, the director directly owned 198,229 shares in the company, valued at approximately $1,564,026.81. The trade was a 18.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.30% of the company’s stock.

Lumen Technologies Stock Performance

Shares of LUMN opened at $6.97 on Friday. The business’s fifty day moving average price is $7.40 and its two-hundred day moving average price is $7.73. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of -4.01 and a beta of 1.52. Lumen Technologies, Inc. has a 52 week low of $3.01 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. The company’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LUMN. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. Citigroup decreased their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lumen Technologies has an average rating of “Hold” and an average target price of $7.25.

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.