Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) traded up 6% during trading on Tuesday . The company traded as high as $1.74 and last traded at $1.71. 3,549,571 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 13,898,344 shares. The stock had previously closed at $1.61.
Lumen Technologies Trading Up 5.0 %
The business has a fifty day simple moving average of $1.53 and a 200 day simple moving average of $1.48. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -0.15 and a beta of 1.11. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35.
Lumen Technologies (NYSE:LUMN – Get Free Report) last released its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, beating 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 the consensus estimate of $3.45 billion. During the same period in the prior year, the company posted $0.43 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.3 EPS for the current year.
Insiders Place Their Bets
In other news, Director T Michael Glenn bought 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $1.47 per share, with a total value of $73,500.00. Following the acquisition, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director T Michael Glenn purchased 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $1.47 per share, with a total value of $73,500.00. Following the completion of the purchase, the director now owns 272,019 shares in the company, valued at approximately $399,867.93. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Fowler bought 33,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $1.68 per share, with a total value of $56,280.00. Following the purchase, the director now directly owns 216,538 shares of the company’s stock, valued at $363,783.84. The disclosure for this purchase can be found here. Insiders bought a total of 113,500 shares of company stock valued at $174,780 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lumen Technologies by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,727 shares of the technology company’s stock valued at $1,203,000 after purchasing an additional 7,501 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Lumen Technologies by 11.2% in the first quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock valued at $205,000 after purchasing an additional 1,837 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Lumen Technologies in the first quarter valued at approximately $1,037,000. MetLife Investment Management LLC lifted its holdings in shares of Lumen Technologies by 24.1% in the first quarter. MetLife Investment Management LLC now owns 252,689 shares of the technology company’s stock valued at $2,848,000 after purchasing an additional 49,091 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Lumen Technologies by 2.9% in the first quarter. Rhumbline Advisers now owns 1,567,942 shares of the technology company’s stock valued at $17,671,000 after purchasing an additional 44,169 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.
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.