Private Management Group Inc. Has $1.75 Million Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Private Management Group Inc. reduced its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 37.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 956,436 shares of the technology company’s stock after selling 580,971 shares during the quarter. Private Management Group Inc.’s holdings in Lumen Technologies were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of LUMN. Strategies Wealth Advisors LLC acquired a new stake in Lumen Technologies in the 4th quarter worth about $26,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Lumen Technologies during the 3rd quarter valued at approximately $30,000. Belpointe Asset Management LLC grew its holdings in shares of Lumen Technologies by 52.1% during the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after purchasing an additional 8,405 shares during the last quarter. QCM Cayman Ltd. bought a new stake in Lumen Technologies during the 3rd quarter worth approximately $37,000. Finally, FAS Wealth Partners Inc. grew its holdings in Lumen Technologies by 45.9% during the 3rd quarter. FAS Wealth Partners Inc. now owns 26,717 shares of the technology company’s stock worth $38,000 after acquiring an additional 8,401 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Insider Transactions at Lumen Technologies

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

Lumen Technologies Trading Down 5.1 %

LUMN traded down $0.07 during trading on Wednesday, reaching $1.29. 11,666,645 shares of the company’s stock were exchanged, compared to its average volume of 12,845,521. The stock has a market capitalization of $1.30 billion, a PE ratio of -0.12 and a beta of 1.10. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $2.70. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 47.56. The firm has a fifty day moving average price of $1.54 and a two-hundred day moving average price of $1.48.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.45 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, equities research analysts forecast that Lumen Technologies, Inc. will post -0.24 earnings per share for the current fiscal year.

Lumen Technologies 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.