2,744,057 Shares in Lumen Technologies, Inc. $LUMN Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,744,057 shares of the technology company’s stock, valued at approximately $16,837,000. Lumen Technologies comprises about 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 23rd largest holding. Penn Capital Management Company LLC owned about 0.27% of Lumen Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LUMN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Lumen Technologies by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock valued at $2,363,000 after purchasing an additional 26,305 shares during the period. Empowered Funds LLC boosted its holdings in Lumen Technologies by 26.8% during the first quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after buying an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Lumen Technologies by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock valued at $11,702,000 after buying an additional 300,328 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Lumen Technologies by 34.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 53,226 shares of the technology company’s stock valued at $233,000 after acquiring an additional 13,702 shares during the last quarter. Finally, Candriam S.C.A. bought a new stake in shares of Lumen Technologies during the 2nd quarter worth $48,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the sale, the director owned 198,229 shares of the company’s stock, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kathleen E. Johnson purchased 78,685 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the purchase, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. This represents a 0.93% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. UBS Group upped their price objective on shares of Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. Finally, Citigroup dropped their target price on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.25.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $6.82 on Wednesday. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -3.92 and a beta of 1.56. The business’s fifty day moving average price is $7.76 and its two-hundred day moving average price is $7.64. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company earned $0.09 EPS. Lumen Technologies’s revenue for the quarter was down 8.7% on a year-over-year basis. Research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

About Lumen Technologies

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.