Kathleen E. Johnson Purchases 750,000 Shares of Lumen Technologies, Inc. (NYSE:LUMN) Stock

Lumen Technologies, Inc. (NYSE:LUMN) CEO Kathleen E. Johnson bought 750,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $1.28 per share, for a total transaction of $960,000.00. Following the transaction, the chief executive officer now owns 7,756,290 shares in the company, valued at approximately $9,928,051.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lumen Technologies Stock Up 2.3 %

Shares of LUMN stock opened at $1.32 on Friday. The firm’s fifty day moving average price is $1.49 and its two-hundred day moving average price is $1.48. Lumen Technologies, Inc. has a 1 year low of $0.78 and a 1 year high of $2.70. The company has a current ratio of 1.03, a quick ratio of 1.35 and a debt-to-equity ratio of 36.89. The firm has a market capitalization of $1.34 billion, a P/E ratio of -0.12 and a beta of 1.16.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Lumen Technologies during the third quarter worth $951,000. State of Alaska Department of Revenue raised its holdings in shares of Lumen Technologies by 3.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 627,581 shares of the technology company’s stock valued at $891,000 after purchasing an additional 19,631 shares during the period. Maryland State Retirement & Pension System lifted its stake in Lumen Technologies by 3.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 371,273 shares of the technology company’s stock valued at $527,000 after purchasing an additional 11,291 shares during the last quarter. Bailard Inc. grew its holdings in Lumen Technologies by 18.6% during the third quarter. Bailard Inc. now owns 162,415 shares of the technology company’s stock worth $231,000 after purchasing an additional 25,457 shares during the period. Finally, Total Clarity Wealth Management Inc. increased its position in Lumen Technologies by 63.7% during the third quarter. Total Clarity Wealth Management Inc. now owns 149,190 shares of the technology company’s stock worth $212,000 after buying an additional 58,081 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

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.