Lumen Technologies Target of Unusually Large Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMNGet Rating) saw some unusual options trading on Thursday. Stock investors bought 50,208 call options on the company. This is an increase of 123% compared to the average volume of 22,481 call options.

Lumen Technologies Price Performance

NYSE:LUMN opened at $8.32 on Friday. The business’s 50-day moving average price is $10.35 and its 200 day moving average price is $10.87. The firm has a market cap of $8.61 billion, a P/E ratio of 4.29 and a beta of 0.97. Lumen Technologies has a 52-week low of $8.17 and a 52-week high of $14.49. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 2.29.

Lumen Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were given a $0.25 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.02%. Lumen Technologies’s dividend payout ratio (DPR) is 51.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LUMN shares. JPMorgan Chase & Co. started coverage on Lumen Technologies in a report on Friday, August 5th. They set an “underweight” rating and a $10.00 price target on the stock. Royal Bank of Canada raised their price target on Lumen Technologies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Thursday, August 11th. Finally, TheStreet lowered Lumen Technologies from a “b” rating to a “c” rating in a report on Monday, August 15th.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors have recently bought and sold shares of LUMN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Lumen Technologies by 0.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,226 shares of the technology company’s stock valued at $1,377,000 after buying an additional 876 shares during the last quarter. Wellington Shields & Co. LLC lifted its holdings in shares of Lumen Technologies by 3.0% during the 1st quarter. Wellington Shields & Co. LLC now owns 33,874 shares of the technology company’s stock valued at $382,000 after buying an additional 975 shares during the last quarter. Commerce Bank lifted its holdings in shares of Lumen Technologies by 8.4% during the 1st quarter. Commerce Bank now owns 12,793 shares of the technology company’s stock valued at $144,000 after buying an additional 989 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Lumen Technologies by 8.3% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock valued at $147,000 after buying an additional 995 shares during the last quarter. Finally, Sanders Morris Harris LLC lifted its holdings in shares of Lumen Technologies by 5.3% during the 1st quarter. Sanders Morris Harris LLC now owns 19,720 shares of the technology company’s stock valued at $222,000 after buying an additional 1,000 shares during the last quarter. 79.02% of the stock is currently owned by institutional investors and hedge funds.

About Lumen Technologies

(Get Rating)

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

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