Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by Versor Investments LP

Versor Investments LP lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 19.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,920 shares of the technology company’s stock after acquiring an additional 47,520 shares during the period. Versor Investments LP’s holdings in Lumen Technologies were worth $532,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LUMN. Vanguard Group Inc. lifted its position in shares of Lumen Technologies by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock worth $166,709,000 after buying an additional 2,404,674 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lumen Technologies by 28.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company’s stock valued at $48,136,000 after purchasing an additional 5,782,249 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Lumen Technologies by 16.0% in the 3rd quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock worth $31,627,000 after purchasing an additional 3,071,405 shares during the last quarter. Hsbc Holdings PLC boosted its position in Lumen Technologies by 20.6% during the 3rd quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock valued at $31,344,000 after purchasing an additional 3,713,167 shares during the period. Finally, Palestra Capital Management LLC grew its position in shares of Lumen Technologies by 788.4% during the third quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock worth $9,273,000 after acquiring an additional 5,795,000 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Down 2.2 %

Lumen Technologies stock opened at $1.31 on Friday. Lumen Technologies, Inc. has a 52-week low of $0.78 and a 52-week high of $2.70. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50-day moving average price of $1.46 and a two-hundred day moving average price of $1.48.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The company’s revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. As a group, equities analysts predict that Lumen Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, CEO Kathleen E. Johnson bought 750,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $1.28 per share, for a total transaction of $960,000.00. Following the completion of the transaction, the chief executive officer now directly owns 7,756,290 shares of the company’s stock, valued at approximately $9,928,051.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lumen Technologies news, CEO Kathleen E. Johnson purchased 750,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $1.28 per share, with a total value of $960,000.00. Following the acquisition, the chief executive officer now owns 7,756,290 shares of the company’s stock, valued at $9,928,051.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director T Michael Glenn acquired 50,000 shares of Lumen Technologies stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $1.47 per share, with a total value of $73,500.00. Following the transaction, the director now owns 272,019 shares in the company, valued at approximately $399,867.93. The disclosure for this purchase can be found here. Insiders purchased 833,500 shares of company stock worth $1,089,780 in the last 90 days. Corporate insiders own 1.68% of the company’s stock.

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.