Lumen Technologies Target of Unusually Large Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) saw unusually large options trading activity on Thursday. Investors purchased 62,368 put options on the stock. This is an increase of approximately 116% compared to the typical daily volume of 28,890 put options.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LUMN. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Lumen Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. UBS Group upped their price objective on Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Royal Bank Of Canada increased their price objective on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.25.

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $7.09 on Friday. The stock’s 50-day simple moving average is $8.01 and its 200-day simple moving average is $7.42. The firm has a market capitalization of $7.26 billion, a PE ratio of -4.07 and a beta of 1.51. Lumen Technologies has a fifty-two week low of $3.01 and a fifty-two week high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Lumen Technologies

In related news, Director Diankha Linear sold 45,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kathleen E. Johnson acquired 78,685 shares of the stock in a transaction on Thursday, February 5th. The shares were 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 directly owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. The trade was a 0.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D lifted its stake in Lumen Technologies by 9.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 490,480 shares of the technology company’s stock valued at $2,148,000 after buying an additional 43,711 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in Lumen Technologies in the 2nd quarter valued at $169,000. Credit Capital Investments LLC boosted its stake in Lumen Technologies by 150.0% during the 2nd quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock worth $657,000 after purchasing an additional 90,000 shares during the period. Prudential Financial Inc. grew its position in Lumen Technologies by 10.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock worth $4,816,000 after purchasing an additional 104,362 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Lumen Technologies by 1.2% in the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock valued at $694,942,000 after purchasing an additional 1,295,177 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Company Profile

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.