Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC grew its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 140.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,259 shares of the technology company’s stock after purchasing an additional 17,084 shares during the quarter. Ballentine Partners LLC’s holdings in Lumen Technologies were worth $54,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LUMN. Cambridge Investment Research Advisors Inc. raised its stake in shares of Lumen Technologies by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 106,727 shares of the technology company’s stock valued at $1,203,000 after purchasing an additional 7,501 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Lumen Technologies by 11.2% in the 1st quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock valued at $205,000 after purchasing an additional 1,837 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Lumen Technologies in the 1st quarter valued at about $1,037,000. MetLife Investment Management LLC raised its stake in shares of Lumen Technologies by 24.1% in the 1st quarter. MetLife Investment Management LLC now owns 252,689 shares of the technology company’s stock valued at $2,848,000 after purchasing an additional 49,091 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Lumen Technologies by 2.9% during the first quarter. Rhumbline Advisers now owns 1,567,942 shares of the technology company’s stock worth $17,671,000 after acquiring an additional 44,169 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Insider Buying and Selling

In other Lumen Technologies news, Director T Michael Glenn acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director T Michael Glenn purchased 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director now owns 272,019 shares of the company’s stock, valued at $399,867.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Fowler purchased 33,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $1.68 per share, for a total transaction of $56,280.00. Following the purchase, the director now directly owns 216,538 shares of the company’s stock, valued at approximately $363,783.84. The disclosure for this purchase can be found here. Insiders have acquired a total of 113,500 shares of company stock worth $174,780 over the last quarter. 0.76% of the stock is owned by company insiders.

Lumen Technologies Price Performance

LUMN opened at $1.46 on Wednesday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -0.14 and a beta of 1.10. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $2.70. The company’s 50-day moving average price is $1.55 and its 200 day moving average price is $1.48. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 47.56.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.11. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.45 billion. Lumen Technologies had a negative net margin of 70.74% and a positive return on equity of 4.85%. Lumen Technologies’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.34 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.