Lee Danner & Bass Inc. Reduces Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Lee Danner & Bass Inc. reduced its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 83.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,470 shares of the technology company’s stock after selling 392,423 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Lumen Technologies were worth $147,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Strategies Wealth Advisors LLC purchased a new position in shares of Lumen Technologies during the 4th quarter worth $26,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Lumen Technologies during the 3rd quarter worth $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 worth $35,000 after purchasing an additional 8,405 shares during the period. QCM Cayman Ltd. acquired a new position in Lumen Technologies during the 3rd quarter worth about $37,000. Finally, FAS Wealth Partners Inc. lifted its stake 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 in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

LUMN opened at $1.37 on Tuesday. The stock’s 50-day moving average price is $1.54 and its 200 day moving average price is $1.48. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $2.70. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.11. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. 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 prior year, the company earned $0.43 EPS. Lumen Technologies’s revenue was down 7.4% on a year-over-year basis. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James Fowler purchased 33,500 shares of Lumen Technologies stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $1.68 per share, with a total value of $56,280.00. Following the transaction, the director now directly owns 216,538 shares of the company’s stock, valued at $363,783.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James Fowler purchased 33,500 shares of Lumen Technologies stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $1.68 per share, with a total value of $56,280.00. Following the transaction, the director now directly owns 216,538 shares of the company’s stock, valued at $363,783.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director T Michael Glenn purchased 50,000 shares of Lumen Technologies stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the transaction, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 113,500 shares of company stock valued at $174,780. Corporate insiders own 1.68% of the company’s stock.

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.