Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp lessened its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 16.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,079,416 shares of the technology company’s stock after selling 215,884 shares during the period. Alaska Permanent Fund Corp owned about 0.11% of Lumen Technologies worth $1,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Lumen Technologies by 2.1% in the third quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock worth $166,709,000 after acquiring an additional 2,404,674 shares during the last quarter. Invesco Ltd. grew its position in Lumen Technologies by 16.0% in the third quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock worth $31,627,000 after acquiring an additional 3,071,405 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Lumen Technologies by 20.6% during the 3rd quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock worth $31,344,000 after purchasing an additional 3,713,167 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Lumen Technologies by 34.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,521,752 shares of the technology company’s stock valued at $29,141,000 after purchasing an additional 5,239,967 shares during the last quarter. Finally, Palestra Capital Management LLC boosted its holdings in Lumen Technologies by 788.4% in the third quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock worth $9,273,000 after purchasing an additional 5,795,000 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Insider Activity at Lumen Technologies

In other news, Director James Fowler bought 33,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $1.68 per share, with a total value of $56,280.00. Following the transaction, the director now directly owns 216,538 shares in the company, valued at $363,783.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director T Michael Glenn bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the purchase, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director James Fowler purchased 33,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $1.68 per share, for a total transaction of $56,280.00. Following the completion of the transaction, the director now directly owns 216,538 shares in the company, valued at $363,783.84. The disclosure for this purchase can be found here. In the last three months, insiders have bought 113,500 shares of company stock worth $174,780. 1.68% of the stock is owned by insiders.

Lumen Technologies Trading Up 2.9 %

LUMN opened at $1.25 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 47.56. The stock has a 50-day moving average of $1.52 and a 200-day moving average of $1.48. Lumen Technologies, Inc. has a 52-week low of $0.78 and a 52-week high of $2.70.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. Equities analysts forecast that Lumen Technologies, Inc. will post -0.24 earnings per share for the current fiscal year.

About Lumen Technologies

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.