Jump Financial LLC Buys Shares of 67,882 Lumen Technologies, Inc. (NYSE:LUMN)

Jump Financial LLC bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 67,882 shares of the technology company’s stock, valued at approximately $922,000.

Other hedge funds have also modified their holdings of the company. Bbva USA purchased a new stake in shares of Lumen Technologies during the second quarter worth about $34,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Lumen Technologies by 267.5% during the second quarter. Creative Financial Designs Inc. ADV now owns 2,576 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,875 shares during the period. Howe & Rusling Inc. lifted its holdings in shares of Lumen Technologies by 53.2% during the first quarter. Howe & Rusling Inc. now owns 3,024 shares of the technology company’s stock worth $40,000 after purchasing an additional 1,050 shares during the period. National Pension Service acquired a new stake in shares of Lumen Technologies during the first quarter worth about $51,000. Finally, Liberty Wealth Management LLC acquired a new stake in shares of Lumen Technologies during the first quarter worth about $54,000. Institutional investors and hedge funds own 75.50% of the company’s stock.

Shares of NYSE:LUMN opened at $12.12 on Thursday. Lumen Technologies, Inc. has a 12-month low of $8.51 and a 12-month high of $16.60. The company has a market capitalization of $13.40 billion, a PE ratio of -13.77 and a beta of 1.05. The business has a 50 day moving average of $12.33 and a two-hundred day moving average of $13.13. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.44.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 3rd. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.05. Lumen Technologies had a positive return on equity of 16.28% and a negative net margin of 4.65%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $5 billion. Equities research analysts predict that Lumen Technologies, Inc. will post 1.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Monday, August 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date was Friday, August 27th. Lumen Technologies’s payout ratio is presently 59.88%.

In other Lumen Technologies news, Director Steven T. Clontz acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 23rd. The stock was acquired at an average cost of $11.98 per share, for a total transaction of $59,900.00. Following the completion of the transaction, the director now directly owns 297,515 shares of the company’s stock, valued at $3,564,229.70. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

A number of research firms recently commented on LUMN. Morgan Stanley decreased their target price on Lumen Technologies from $12.10 to $11.00 and set an “underweight” rating for the company in a report on Monday, August 23rd. Zacks Investment Research raised Lumen Technologies from a “sell” rating to a “hold” rating and set a $14.00 target price for the company in a report on Thursday, August 5th.

Lumen Technologies Profile

Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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