Mackenzie Financial Corp Increases Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mackenzie Financial Corp raised its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 536.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 409,448 shares of the technology company’s stock after buying an additional 345,098 shares during the period. Mackenzie Financial Corp’s holdings in Lumen Technologies were worth $749,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Palestra Capital Management LLC increased its stake in shares of Lumen Technologies by 788.4% in the 3rd quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock worth $9,273,000 after acquiring an additional 5,795,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lumen Technologies by 34.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,521,752 shares of the technology company’s stock valued at $29,141,000 after acquiring an additional 5,239,967 shares during the period. Hsbc Holdings PLC lifted its position in Lumen Technologies by 20.6% during the 3rd quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock valued at $31,344,000 after acquiring an additional 3,713,167 shares during the period. Invesco Ltd. lifted its position in Lumen Technologies by 16.0% during the 3rd quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock valued at $31,627,000 after acquiring an additional 3,071,405 shares during the period. Finally, Vanguard Group Inc. lifted its position in Lumen Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock valued at $166,709,000 after acquiring an additional 2,404,674 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director T Michael Glenn bought 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, with a total value of $73,500.00. Following the completion of the acquisition, the director now owns 272,019 shares of the company’s stock, valued at $399,867.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director T Michael Glenn purchased 50,000 shares of Lumen Technologies stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director now directly owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Fowler purchased 30,000 shares of Lumen Technologies stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $1.50 per share, with a total value of $45,000.00. Following the completion of the purchase, the director now directly owns 183,038 shares of the company’s stock, valued at $274,557. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 113,500 shares of company stock valued at $174,780. Insiders own 1.68% of the company’s stock.

Lumen Technologies Trading Down 6.2 %

Shares of NYSE LUMN opened at $1.21 on Friday. Lumen Technologies, Inc. has a 1 year low of $0.78 and a 1 year high of $2.70. The stock has a market cap of $1.22 billion, a P/E ratio of -0.12 and a beta of 1.10. The firm has a 50-day moving average of $1.52 and a 200 day moving average of $1.48. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35.

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

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.