Connor Clark & Lunn Investment Management Ltd. Buys 757,082 Shares of Lumen Technologies, Inc. $LUMN

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN – Free Report) by 19.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,613,499 shares of the technology company’s stock after buying an additional 757,082 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Lumen Technologies were worth $20,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after purchasing an additional 3,391 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of Lumen Technologies during the first quarter valued at approximately $41,000. Meeder Advisory Services Inc. purchased a new stake in shares of Lumen Technologies in the first quarter worth approximately $41,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Lumen Technologies by 60.8% in 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 period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Down 0.2%

Shares of NYSE LUMN opened at $10.50 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The stock has a market capitalization of $10.77 billion, a PE ratio of -8.90 and a beta of 1.45. The stock’s fifty day simple moving average is $7.20 and its two-hundred day simple moving average is $5.27. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $11.95.

Lumen Technologies (NYSE:LUMN – Get Free Report) last issued its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm had revenue of $4.05 billion during the quarter. As a group, analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other news, CFO Christopher Stansbury acquired 40,000 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of $4.44 per share, with a total value of $177,600.00. Following the transaction, the chief financial officer directly owned 535,000 shares in the company, valued at approximately $2,375,400. This represents a 8.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LUMN shares. Raymond James Financial increased their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. The Goldman Sachs Group lifted 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. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Citigroup downgraded shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.97.

Read Our Latest Research Report on Lumen Technologies

Lumen Technologies Profile

(Free Report)

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.

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