Prime Capital Investment Advisors LLC Cuts Stake in Lumen Technologies, Inc. $LUMN

Prime Capital Investment Advisors LLC reduced its position in Lumen Technologies, Inc. (NYSE:LUMN) by 23.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,467 shares of the technology company’s stock after selling 4,727 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Lumen Technologies were worth $68,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after purchasing an additional 3,391 shares during the last quarter. Conning Inc. purchased a new position in Lumen Technologies in the first quarter worth $39,000. OneDigital Investment Advisors LLC purchased a new position in Lumen Technologies in the first quarter worth $41,000. Meeder Advisory Services Inc. purchased a new position in Lumen Technologies in the first quarter worth $41,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of Lumen Technologies during the first quarter valued at $43,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lumen Technologies

In other news, CEO Kathleen E. Johnson acquired 135,870 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the transaction, the chief executive officer owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. The trade was a 1.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher Stansbury acquired 42,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $4.29 per share, with a total value of $180,180.00. Following the transaction, the chief financial officer owned 518,000 shares of the company’s stock, valued at approximately $2,222,220. This trade represents a 8.82% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 217,870 shares of company stock valued at $859,140. Insiders own 2.30% of the company’s stock.

Lumen Technologies Price Performance

NYSE:LUMN opened at $6.59 on Monday. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $10.33. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of -5.58 and a beta of 1.45. The firm’s fifty day moving average is $5.27 and its two-hundred day moving average is $4.45.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The company had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a report on Wednesday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Raymond James Financial boosted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, August 1st. The Goldman Sachs Group boosted their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.39.

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.