Investors Buy Large Volume of Lumen Technologies Put Options (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of unusually large options trading activity on Monday. Stock investors acquired 36,190 put options on the stock. This represents an increase of approximately 143% compared to the average daily volume of 14,903 put options.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler acquired 70,000 shares of Lumen Technologies stock in a transaction dated Tuesday, November 7th. The stock was acquired at an average price of $1.40 per share, for a total transaction of $98,000.00. Following the transaction, the director now owns 153,038 shares of the company’s stock, valued at $214,253.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Lumen Technologies news, CFO Christopher Stansbury purchased 500,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of $1.10 per share, for a total transaction of $550,000.00. Following the transaction, the chief financial officer now directly owns 500,000 shares in the company, valued at $550,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Fowler acquired 70,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was purchased at an average cost of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 153,038 shares in the company, valued at approximately $214,253.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,570,000 shares of company stock worth $1,618,000. 0.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Lumen Technologies by 8.3% in 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 purchasing an additional 995 shares in the last quarter. SVB Wealth LLC lifted its holdings in shares of Lumen Technologies by 7.9% during the 1st quarter. SVB Wealth LLC now owns 18,743 shares of the technology company’s stock worth $212,000 after acquiring an additional 1,370 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Lumen Technologies by 11.2% during the 1st quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after acquiring an additional 1,837 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Lumen Technologies by 7.5% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 34,135 shares of the technology company’s stock worth $249,000 after acquiring an additional 2,370 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Lumen Technologies by 3.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 84,996 shares of the technology company’s stock worth $958,000 after acquiring an additional 2,547 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LUMN. UBS Group dropped their price objective on shares of Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Morgan Stanley lowered their price target on shares of Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating on the stock in a research note on Tuesday, September 5th. Royal Bank of Canada lowered their price target on shares of Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating on the stock in a research note on Thursday, August 17th. Finally, The Goldman Sachs Group lowered their price target on shares of Lumen Technologies from $3.00 to $1.50 and set a “neutral” rating on the stock in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $2.09.

Lumen Technologies Price Performance

NYSE LUMN traded up $0.05 during trading hours on Monday, reaching $1.40. The company’s stock had a trading volume of 6,092,449 shares, compared to its average volume of 24,542,238. The stock has a market cap of $1.41 billion, a PE ratio of -0.12, a PEG ratio of 0.18 and a beta of 1.04. Lumen Technologies has a fifty-two week low of $0.78 and a fifty-two week high of $6.19. The company’s 50-day moving average is $1.36 and its two-hundred day moving average is $1.73. The company has a debt-to-equity ratio of 8.90, a quick ratio of 1.19 and a current ratio of 1.19.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, October 31st. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. Lumen Technologies had a negative net margin of 76.63% and a positive return on equity of 8.25%. Analysts forecast that Lumen Technologies will post 0.21 EPS for the current year.

About Lumen Technologies

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.