Jefferies Financial Group Inc. Invests $640,000 in Lumen Technologies, Inc. $LUMN

Jefferies Financial Group Inc. bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 83,273 shares of the technology company’s stock, valued at approximately $640,000.

Other large investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its stake in shares of Lumen Technologies by 2.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock worth $479,000 after purchasing an additional 1,230 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Lumen Technologies by 1.7% in the 1st quarter. Lazard Asset Management LLC now owns 78,690 shares of the technology company’s stock valued at $547,000 after purchasing an additional 1,294 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Lumen Technologies by 4.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 31,875 shares of the technology company’s stock worth $222,000 after purchasing an additional 1,393 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Lumen Technologies by 7.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,821 shares of the technology company’s stock worth $162,000 after purchasing an additional 1,417 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in Lumen Technologies by 13.6% during the first quarter. Citizens Financial Group Inc. RI now owns 12,174 shares of the technology company’s stock worth $85,000 after buying an additional 1,457 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LUMN shares. TD Cowen upped their price objective on Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group reduced their target price on Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. JPMorgan Chase & Co. increased their price target on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. UBS Group raised their price target on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their price objective on shares of Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $7.86.

Lumen Technologies Trading Up 2.8%

Shares of LUMN opened at $6.21 on Tuesday. The stock has a market capitalization of $6.41 billion, a PE ratio of -6.09 and a beta of 1.79. The firm’s 50 day moving average is $6.55 and its 200-day moving average is $7.59. Lumen Technologies, Inc. has a 12 month low of $4.57 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.74 billion. Lumen Technologies’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. Equities research analysts predict that Lumen Technologies, Inc. will post -0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kathleen E. Johnson acquired 100,000 shares of Lumen Technologies stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $6.13 per share, for a total transaction of $613,000.00. Following the completion of the purchase, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at approximately $613,000. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Lumen Technologies Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.