Caitong International Asset Management Co. Ltd Buys 6,456 Shares of Lumen Technologies, Inc. $LUMN

Caitong International Asset Management Co. Ltd increased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 3,527.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,639 shares of the technology company’s stock after acquiring an additional 6,456 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Lumen Technologies were worth $29,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. HB Wealth Management LLC increased its position in Lumen Technologies by 23.6% during the first quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock worth $54,000 after buying an additional 2,619 shares during the last quarter. Farther Finance Advisors LLC increased its position in Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after buying an additional 3,391 shares during the last quarter. Natixis Advisors LLC increased its position in Lumen Technologies by 5.1% during the first quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company’s stock worth $277,000 after buying an additional 3,426 shares during the last quarter. LPL Financial LLC increased its position in Lumen Technologies by 1.0% during the first quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock worth $1,490,000 after buying an additional 3,927 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Lumen Technologies by 60.8% during the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after buying an additional 4,102 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on LUMN shares. Raymond James Financial upped their target price on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. The Goldman Sachs Group increased their target price on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Saturday. Finally, Citigroup increased their target price on Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.39.

Insider Buying and Selling

In related news, CFO Christopher Stansbury purchased 40,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average price of $4.44 per share, with a total value of $177,600.00. Following the completion of the transaction, the chief financial officer directly owned 535,000 shares of the company’s stock, valued at $2,375,400. This represents a 8.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kathleen E. Johnson purchased 135,870 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the transaction, the chief executive officer directly owned 9,616,947 shares of the company’s stock, valued at $35,486,534.43. This represents a 1.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 217,870 shares of company stock worth $859,140 in the last three months. 2.30% of the stock is currently owned by company insiders.

Lumen Technologies Trading Up 3.6%

Shares of NYSE:LUMN opened at $8.07 on Monday. The company has a market capitalization of $8.28 billion, a P/E ratio of -6.84 and a beta of 1.45. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $10.33. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. The business’s 50 day simple moving average is $5.92 and its 200 day simple moving average is $4.70.

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

About Lumen Technologies

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.