Everence Capital Management Inc. Buys 69,820 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Everence Capital Management Inc. lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 75.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,730 shares of the technology company’s stock after purchasing an additional 69,820 shares during the quarter. Everence Capital Management Inc.’s holdings in Lumen Technologies were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its position in Lumen Technologies by 536.3% during the 4th quarter. Mackenzie Financial Corp now owns 409,448 shares of the technology company’s stock worth $749,000 after buying an additional 345,098 shares during the period. Strs Ohio lifted its position in shares of Lumen Technologies by 50.9% in the 4th quarter. Strs Ohio now owns 179,900 shares of the technology company’s stock worth $329,000 after purchasing an additional 60,700 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Lumen Technologies in the 4th quarter worth approximately $924,000. ORG Partners LLC lifted its position in shares of Lumen Technologies by 54.0% during the 4th quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock valued at $41,000 after acquiring an additional 7,920 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Lumen Technologies by 60.5% during the 4th quarter. Cerity Partners LLC now owns 33,944 shares of the technology company’s stock valued at $62,000 after acquiring an additional 12,794 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $1.32 on Friday. The company has a market capitalization of $1.33 billion, a PE ratio of -0.13 and a beta of 1.10. The firm’s fifty day moving average is $1.55 and its 200 day moving average is $1.48. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 47.56. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $2.70.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.45 billion. Lumen Technologies had a negative net margin of 70.74% and a positive return on equity of 4.85%. Lumen Technologies’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.24 EPS for the current fiscal year.

Insider Transactions at Lumen Technologies

In other news, Director T Michael Glenn bought 50,000 shares of Lumen Technologies stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the purchase, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director T Michael Glenn bought 50,000 shares of Lumen Technologies stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the purchase, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Fowler bought 33,500 shares of Lumen Technologies stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $1.68 per share, with a total value of $56,280.00. Following the purchase, the director now owns 216,538 shares in the company, 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 worth $174,780 in the last quarter. 1.68% of the stock is currently owned by corporate insiders.

Lumen Technologies 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.