Carolina Wealth Advisors LLC Acquires 32,840 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Carolina Wealth Advisors LLC increased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMNFree Report) by 158.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,518 shares of the technology company’s stock after purchasing an additional 32,840 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in Lumen Technologies were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategies Wealth Advisors LLC purchased a new stake in Lumen Technologies during the fourth quarter valued at $26,000. Brighton Jones LLC purchased a new stake in Lumen Technologies during the fourth quarter valued at $27,000. HighPoint Advisor Group LLC purchased a new stake in Lumen Technologies during the fourth quarter valued at $27,000. DekaBank Deutsche Girozentrale purchased a new stake in Lumen Technologies during the third quarter valued at $30,000. Finally, Belpointe Asset Management LLC increased its position in Lumen Technologies by 52.1% during the third quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after acquiring an additional 8,405 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

Lumen Technologies stock traded down $0.01 during mid-day trading on Wednesday, reaching $1.07. 13,235,202 shares of the stock traded hands, compared to its average volume of 7,965,600. 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 business’s 50-day moving average is $1.28 and its 200-day moving average is $1.47. The stock has a market capitalization of $1.09 billion, a PE ratio of -0.10 and a beta of 1.20. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $2.34.

Lumen Technologies (NYSE:LUMNGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kathleen E. Johnson purchased 750,000 shares of Lumen Technologies stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price 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 in the company, valued at approximately $9,928,051.20. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.68% of the company’s stock.

About Lumen Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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