Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC trimmed its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 37.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,887 shares of the technology company’s stock after selling 50,000 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Lumen Technologies were worth $154,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Lumen Technologies by 8.3% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock valued at $147,000 after purchasing an additional 995 shares in the last quarter. SVB Wealth LLC raised its position in shares of Lumen Technologies by 7.9% in the first quarter. SVB Wealth LLC now owns 18,743 shares of the technology company’s stock valued at $212,000 after buying an additional 1,370 shares during the last quarter. D.A. Davidson & CO. boosted its position in Lumen Technologies by 11.2% during the first quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after acquiring an additional 1,837 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Lumen Technologies by 7.5% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 34,135 shares of the technology company’s stock valued at $249,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Lumen Technologies by 3.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 84,996 shares of the technology company’s stock worth $958,000 after purchasing an additional 2,547 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Insider Activity at Lumen Technologies

In other news, Director T Michael Glenn bought 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $1.47 per share, with a total value of $73,500.00. Following the transaction, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James Fowler bought 33,500 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average price of $1.68 per share, with a total value of $56,280.00. Following the completion of the acquisition, the director now directly owns 216,538 shares in the company, valued at $363,783.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director T Michael Glenn bought 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $1.47 per share, with a total value of $73,500.00. Following the purchase, the director now owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 113,500 shares of company stock worth $174,780. Insiders own 0.76% of the company’s stock.

Lumen Technologies Trading Down 0.6 %

Shares of NYSE LUMN traded down $0.01 during trading on Thursday, hitting $1.57. 5,239,271 shares of the company were exchanged, compared to its average volume of 13,928,956. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $2.73. The company has a fifty day moving average price of $1.54 and a 200-day moving average price of $1.49. The firm has a market capitalization of $1.59 billion, a PE ratio of -0.15 and a beta of 1.11.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.11. Lumen Technologies had a negative net margin of 70.74% and a positive return on equity of 4.85%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.3 EPS for the current 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.