Lumen Technologies (NYSE:LUMN) Shares Gap Up After Insider Buying Activity

Shares of Lumen Technologies, Inc. (NYSE:LUMN) gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $1.29, but opened at $1.38. Lumen Technologies shares last traded at $1.34, with a volume of 5,174,953 shares changing hands.

Specifically, Director James Fowler bought 30,000 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $1.50 per share, for a total transaction of $45,000.00. Following the acquisition, the director now owns 183,038 shares in the company, valued at approximately $274,557. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Lumen Technologies news, Director James Fowler acquired 30,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $45,000.00. Following the completion of the purchase, the director now owns 183,038 shares in the company, valued at approximately $274,557. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kathleen E. Johnson bought 750,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $1.28 per share, with a total value of $960,000.00. Following the purchase, the chief executive officer now directly owns 7,756,290 shares of the company’s stock, valued at approximately $9,928,051.20. The disclosure for this purchase can be found here. Insiders have purchased 863,500 shares of company stock worth $1,134,780 over the last three months. Insiders own 1.68% of the company’s stock.

Lumen Technologies Trading Up 1.9 %

The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.35. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -0.12 and a beta of 1.16. The business’s 50 day moving average price is $1.49 and its 200-day moving average price is $1.48.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the company posted $0.10 earnings per share. The business’s quarterly revenue was down 12.0% on a year-over-year basis. Equities analysts forecast that Lumen Technologies, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently made changes to their positions in LUMN. Guardian Capital LP grew its holdings in shares of Lumen Technologies by 53.5% in the 4th quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock worth $41,000 after acquiring an additional 7,717 shares during the period. ORG Partners LLC grew its holdings in Lumen Technologies by 54.0% in the fourth quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock valued at $41,000 after purchasing an additional 7,920 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Lumen Technologies by 36.4% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the technology company’s stock valued at $55,000 after buying an additional 8,000 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of Lumen Technologies by 52.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock worth $35,000 after buying an additional 8,405 shares in the last quarter. Finally, Triumph Capital Management grew its stake in Lumen Technologies by 4.2% in the 4th quarter. Triumph Capital Management now owns 221,410 shares of the technology company’s stock valued at $405,000 after acquiring an additional 8,867 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Company Profile

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.