Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report)’s stock price gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $1.29, but opened at $1.38. Lumen Technologies shares last traded at $1.34, with a volume of 5,174,953 shares.
Specifically, CEO Kathleen E. Johnson acquired 750,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $1.28 per share, for a total transaction of $960,000.00. Following the acquisition, the chief executive officer now owns 7,756,290 shares of the company’s stock, valued at $9,928,051.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lumen Technologies news, Director James Fowler acquired 33,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathleen E. Johnson bought 750,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $1.28 per share, with a total value of $960,000.00. Following the purchase, the chief executive officer now directly owns 7,756,290 shares of the company’s stock, valued at approximately $9,928,051.20. The disclosure for this purchase can be found here. Insiders have acquired 863,500 shares of company stock valued at $1,134,780 over the last ninety days. 1.68% of the stock is owned by insiders.
Lumen Technologies Price Performance
The stock has a market capitalization of $1.33 billion, a P/E ratio of -0.12 and a beta of 1.16. The company has a quick ratio of 1.35, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. The firm has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $1.48.
Institutional Investors Weigh In On Lumen Technologies
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Lumen Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company’s stock worth $216,540,000 after acquiring an additional 927,331 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lumen Technologies by 28.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company’s stock worth $48,136,000 after acquiring an additional 5,782,249 shares during the period. Invesco Ltd. increased its stake in shares of Lumen Technologies by 16.0% in the third quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock worth $31,627,000 after purchasing an additional 3,071,405 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Lumen Technologies by 20.6% during the 3rd quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock valued at $31,344,000 after buying an additional 3,713,167 shares in the last quarter. Finally, Palestra Capital Management LLC boosted its holdings in Lumen Technologies by 71.0% in the 4th quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock worth $20,437,000 after buying an additional 4,637,585 shares during the period. Institutional investors own 66.19% of the company’s stock.
About Lumen Technologies
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.
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