WINTON GROUP Ltd Buys Shares of 484,380 Lumen Technologies, Inc. $LUMN

WINTON GROUP Ltd acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the second quarter, HoldingsChannel reports. The fund acquired 484,380 shares of the technology company’s stock, valued at approximately $3,720,000.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Lumen Technologies by 324.7% during the fourth quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company’s stock worth $172,585,000 after purchasing an additional 16,981,326 shares in the last quarter. Norges Bank purchased a new position in shares of Lumen Technologies in the fourth quarter worth about $106,557,000. Hsbc Holdings PLC purchased a new stake in Lumen Technologies in the second quarter valued at approximately $74,242,000. California State Teachers Retirement System increased its holdings in Lumen Technologies by 649.4% in the 2nd quarter. California State Teachers Retirement System now owns 8,472,745 shares of the technology company’s stock worth $65,071,000 after buying an additional 7,342,204 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Lumen Technologies by 737.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,043,124 shares of the technology company’s stock worth $62,496,000 after buying an additional 7,082,560 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on LUMN shares. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. The Goldman Sachs Group reduced their price objective 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. Citigroup lowered their price target on shares of Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Friday, July 17th. Finally, Wells Fargo & Company cut their target price on shares of Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lumen Technologies has a consensus rating of “Reduce” and a consensus price target of $7.86.

Lumen Technologies Price Performance

NYSE LUMN opened at $6.82 on Friday. The company has a market cap of $7.04 billion, a P/E ratio of -6.69 and a beta of 1.78. The stock has a 50-day moving average of $6.40 and a two-hundred day moving average of $7.51. Lumen Technologies, Inc. has a 1-year low of $5.45 and a 1-year high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the company posted ($0.03) EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.52 EPS for the current fiscal year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen Johnson bought 100,000 shares of Lumen Technologies stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $6.13 per share, for a total transaction of $613,000.00. Following the acquisition, the chief executive officer directly owned 100,000 shares in the company, valued at $613,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Lumen Technologies Profile

Lumen Technologies, Inc (NYSE: LUMN) is a communications and technology company that provides connectivity, networking and digital services to businesses, government organizations and other institutions. Its offerings include fiber-based internet access, wide-area networking, ethernet, software-defined networking, managed network services, cloud connectivity, cybersecurity and unified communications.

The company operates one of the largest fiber networks in the United States and also provides international connectivity through its global network infrastructure.