Mackenzie Financial Corp Has $3.93 Million Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Mackenzie Financial Corp lessened its stake in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 19.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 359,963 shares of the technology company’s stock after selling 89,204 shares during the quarter. Mackenzie Financial Corp’s holdings in Lumen Technologies were worth $3,927,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. MAI Capital Management increased its stake in shares of Lumen Technologies by 13.2% during the 1st quarter. MAI Capital Management now owns 20,859 shares of the technology company’s stock worth $235,000 after purchasing an additional 2,436 shares during the last quarter. National Asset Management Inc. boosted its holdings in shares of Lumen Technologies by 26.7% during the 1st quarter. National Asset Management Inc. now owns 70,427 shares of the technology company’s stock worth $794,000 after buying an additional 14,863 shares during the period. US Bancorp DE boosted its holdings in shares of Lumen Technologies by 27.3% during the 2nd quarter. US Bancorp DE now owns 61,493 shares of the technology company’s stock worth $670,000 after buying an additional 13,178 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Lumen Technologies by 39.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 234,361 shares of the technology company’s stock worth $2,641,000 after buying an additional 66,520 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Lumen Technologies during the 2nd quarter worth $112,000. Institutional investors and hedge funds own 79.02% of the company’s stock.

Lumen Technologies Price Performance

NYSE:LUMN opened at $5.87 on Monday. The company has a 50-day moving average of $7.21 and a 200-day moving average of $9.65. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 2.94 and a beta of 1.06. Lumen Technologies, Inc. has a 52 week low of $5.68 and a 52 week high of $14.00. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.08 and a current ratio of 1.08.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Lumen Technologies from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 13th. JPMorgan Chase & Co. reduced their price target on shares of Lumen Technologies from $10.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, November 3rd. TheStreet downgraded shares of Lumen Technologies from a “b” rating to a “c” rating in a report on Monday, August 15th. Moffett Nathanson reduced their price target on shares of Lumen Technologies to $6.00 in a report on Thursday, September 29th. Finally, Wells Fargo & Company downgraded shares of Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 price target for the company. in a report on Wednesday, October 5th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.14.

Insider Buying and Selling

In other news, Director T Michael Glenn bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was acquired at an average price of $5.92 per share, for a total transaction of $118,400.00. Following the transaction, the director now directly owns 136,414 shares of the company’s stock, valued at approximately $807,570.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director T Michael Glenn bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was acquired at an average price of $5.92 per share, for a total transaction of $118,400.00. Following the transaction, the director now directly owns 136,414 shares of the company’s stock, valued at approximately $807,570.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martha Helena Bejar bought 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were purchased at an average price of $6.36 per share, with a total value of $79,500.00. Following the transaction, the director now directly owns 101,430 shares in the company, valued at $645,094.80. The disclosure for this purchase can be found here. 0.76% of the stock is currently owned by corporate insiders.

Lumen Technologies Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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