Prime Capital Investment Advisors LLC Reduces Position in Lumen Technologies, Inc. $LUMN

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

Several other large investors also recently bought and sold shares of the business. Invesco Ltd. grew its stake in shares of Lumen Technologies by 91.6% in the 1st quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock valued at $40,285,000 after buying an additional 4,911,803 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Lumen Technologies by 12.6% in the 1st quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company’s stock valued at $34,387,000 after buying an additional 982,038 shares during the period. Nuveen LLC purchased a new stake in shares of Lumen Technologies in the 1st quarter valued at approximately $26,469,000. Principal Financial Group Inc. grew its stake in shares of Lumen Technologies by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 5,053,232 shares of the technology company’s stock valued at $19,809,000 after buying an additional 131,851 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of Lumen Technologies by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 3,218,230 shares of the technology company’s stock valued at $12,615,000 after buying an additional 689,843 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Finally, Raymond James Financial increased their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $5.39.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $6.59 on Monday. The firm has a market cap of $6.76 billion, a PE ratio of -5.58 and a beta of 1.45. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $10.33. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. The company’s 50 day moving average is $5.27 and its two-hundred day moving average is $4.45.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (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%. On average, research analysts expect 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.