105,183 Shares in Lumen Technologies, Inc. $LUMN Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 105,183 shares of the technology company’s stock, valued at approximately $808,000.

Several other large investors also recently made changes to their positions in the business. Landscape Capital Management L.L.C. bought a new stake in shares of Lumen Technologies in the 2nd quarter worth approximately $634,000. Callan Family Office LLC acquired a new position in Lumen Technologies in the second quarter worth approximately $201,000. Allworth Financial LP bought a new position in shares of Lumen Technologies in the second quarter valued at $80,000. Madison Asset Management LLC bought a new stake in shares of Lumen Technologies during the 2nd quarter worth $952,000. Finally, Wealthfront Advisers LLC grew its holdings in shares of Lumen Technologies by 72.5% in the 2nd quarter. Wealthfront Advisers LLC now owns 28,326 shares of the technology company’s stock worth $218,000 after acquiring an additional 11,909 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Zacks Research lowered Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group reduced their price objective on shares of Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Citigroup cut their price target on shares of Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. JPMorgan Chase & Co. upped their price target on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Friday, July 17th. Nine equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $7.86.

Insider Transactions at Lumen Technologies

In related news, CEO Kathleen E. Johnson bought 100,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $6.13 per share, with a total value of $613,000.00. Following the purchase, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at approximately $613,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Lumen Technologies Price Performance

NYSE:LUMN opened at $6.08 on Thursday. The stock has a market cap of $6.27 billion, a PE ratio of -5.96 and a beta of 1.78. Lumen Technologies, Inc. has a fifty-two week low of $4.57 and a fifty-two week high of $11.95. The stock’s 50-day moving average is $6.67 and its two-hundred day moving average is $7.63.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the company earned ($0.03) earnings per share. Lumen Technologies’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.42 earnings per share for the current year.

About Lumen Technologies

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.