Connor Clark & Lunn Investment Management Ltd. Has $32.19 Million Stock Position in Lumen Technologies, Inc. $LUMN

Connor Clark & Lunn Investment Management Ltd. grew its position in Lumen Technologies, Inc. (NYSE:LUMN) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,259,155 shares of the technology company’s stock after acquiring an additional 645,656 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Lumen Technologies were worth $32,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mackenzie Financial Corp lifted its position in Lumen Technologies by 9.6% in the third quarter. Mackenzie Financial Corp now owns 109,437 shares of the technology company’s stock worth $670,000 after purchasing an additional 9,629 shares during the period. Franklin Resources Inc. increased its holdings in Lumen Technologies by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,172,368 shares of the technology company’s stock valued at $7,175,000 after buying an additional 7,067 shares during the period. Swiss National Bank raised its stake in shares of Lumen Technologies by 1.6% in the 3rd quarter. Swiss National Bank now owns 1,889,900 shares of the technology company’s stock valued at $11,566,000 after buying an additional 29,400 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Lumen Technologies by 203.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 837,272 shares of the technology company’s stock worth $5,121,000 after acquiring an additional 561,150 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Lumen Technologies by 36.2% during the 3rd quarter. Private Advisor Group LLC now owns 53,057 shares of the technology company’s stock valued at $325,000 after acquiring an additional 14,099 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, Director Diankha Linear sold 45,000 shares of Lumen Technologies stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the completion of the transaction, the director owned 198,229 shares in the company, valued at approximately $1,564,026.81. The trade was a 18.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kathleen E. Johnson bought 78,685 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $6.35 per share, for a total transaction of $499,649.75. Following the acquisition, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. The trade was a 0.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LUMN shares. Raymond James Financial reissued a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. The Goldman Sachs Group increased their target price on Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. Finally, UBS Group boosted their price target on Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.25.

Lumen Technologies Stock Down 3.7%

NYSE:LUMN opened at $6.41 on Friday. The firm has a market cap of $6.56 billion, a PE ratio of -3.68 and a beta of 1.56. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $11.95. The company’s 50-day moving average price is $7.82 and its two-hundred day moving average price is $7.56.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. Lumen Technologies’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies Company Profile

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.