Christopher Stansbury Acquires 500,000 Shares of Lumen Technologies, Inc. (NYSE:LUMN) Stock

Posted by on Nov 5th, 2023

Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) CFO Christopher Stansbury purchased 500,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was purchased at an average cost of $1.10 per share, for a total transaction of $550,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 500,000 shares of the company’s stock, valued at approximately $550,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lumen Technologies Trading Up 5.7 %

NYSE LUMN opened at $1.12 on Friday. The company has a market capitalization of $1.13 billion, a PE ratio of -0.10 and a beta of 1.04. The company has a fifty day moving average of $1.41 and a 200 day moving average of $1.80. Lumen Technologies, Inc. has a 1 year low of $0.78 and a 1 year high of $6.76. The company has a debt-to-equity ratio of 8.90, a current ratio of 1.19 and a quick ratio of 1.23.

Lumen Technologies (NYSE:LUMN – Get Free Report) last posted its earnings results on Tuesday, October 31st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. Lumen Technologies had a negative net margin of 76.63% and a positive return on equity of 8.25%. Research analysts forecast that Lumen Technologies, Inc. will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LUMN shares. Morgan Stanley dropped their price objective on shares of Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating on the stock in a report on Tuesday, September 5th. Royal Bank of Canada dropped their price objective on shares of Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating on the stock in a report on Thursday, August 17th. The Goldman Sachs Group dropped their price objective on shares of Lumen Technologies from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Finally, UBS Group dropped their price objective on shares of Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.34.

Get Our Latest Report on Lumen Technologies

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUMN. Hilltop Holdings Inc. acquired a new position in shares of Lumen Technologies in the second quarter worth about $25,000. Equitable Holdings Inc. acquired a new position in shares of Lumen Technologies in the second quarter worth about $25,000. Parkside Financial Bank & Trust raised its position in shares of Lumen Technologies by 2,331.1% in the first quarter. Parkside Financial Bank & Trust now owns 10,551 shares of the technology company’s stock worth $28,000 after acquiring an additional 10,117 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in shares of Lumen Technologies in the second quarter worth about $28,000. Finally, Lindbrook Capital LLC raised its position in shares of Lumen Technologies by 356.7% in the first quarter. Lindbrook Capital LLC now owns 10,879 shares of the technology company’s stock worth $29,000 after acquiring an additional 8,497 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Company Profile

(Get Free Report)

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

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