Private Management Group Inc. Lowers Position in Lumen Technologies, Inc. (NYSE:LUMN)

Private Management Group Inc. lessened its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 37.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 956,436 shares of the technology company’s stock after selling 580,971 shares during the period. Private Management Group Inc. owned 0.09% of Lumen Technologies worth $1,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC raised its position in Lumen Technologies by 54.0% during the fourth quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock valued at $41,000 after purchasing an additional 7,920 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Lumen Technologies by 36.4% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the technology company’s stock valued at $55,000 after buying an additional 8,000 shares during the last quarter. FAS Wealth Partners Inc. grew its stake in shares of Lumen Technologies by 45.9% during the third quarter. FAS Wealth Partners Inc. now owns 26,717 shares of the technology company’s stock valued at $38,000 after buying an additional 8,401 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of Lumen Technologies by 52.1% during the third quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after buying an additional 8,405 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Lumen Technologies by 48.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 27,648 shares of the technology company’s stock valued at $39,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Insider Buying and Selling

In other Lumen Technologies news, Director T Michael Glenn bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of $1.47 per share, with a total value 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 $399,867.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James Fowler acquired 33,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $1.68 per share, with a total value of $56,280.00. Following the transaction, the director now owns 216,538 shares in the company, valued at approximately $363,783.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director T Michael Glenn acquired 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director now owns 272,019 shares in the company, valued at approximately $399,867.93. The disclosure for this purchase can be found here. Insiders have acquired 113,500 shares of company stock valued at $174,780 over the last ninety days. 1.68% of the stock is owned by insiders.

Lumen Technologies Trading Down 5.1 %

Shares of NYSE:LUMN traded down $0.07 on Wednesday, reaching $1.29. 11,666,645 shares of the company traded hands, compared to its average volume of 12,845,521. The business’s 50-day simple moving average is $1.54 and its 200 day simple moving average is $1.48. Lumen Technologies, Inc. has a 52 week low of $0.78 and a 52 week high of $2.70. The stock has a market capitalization of $1.30 billion, a P/E ratio of -0.12 and a beta of 1.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 47.56.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. As a group, equities analysts anticipate that Lumen Technologies, Inc. will post -0.24 EPS for the current fiscal year.

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.