Mraz Amerine & Associates Inc. Trims Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mraz Amerine & Associates Inc. cut its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 16.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 286,742 shares of the technology company’s stock after selling 57,757 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Lumen Technologies were worth $525,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Hilltop Holdings Inc. purchased a new position in Lumen Technologies during the second quarter valued at approximately $25,000. Equitable Holdings Inc. purchased a new position in Lumen Technologies during the second quarter valued at approximately $25,000. Strategies Wealth Advisors LLC purchased a new position in Lumen Technologies during the fourth quarter valued at approximately $26,000. Lazard Asset Management LLC increased its holdings in Lumen Technologies by 115.5% during the third quarter. Lazard Asset Management LLC now owns 21,023 shares of the technology company’s stock valued at $29,000 after buying an additional 11,267 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in Lumen Technologies during the third quarter valued at approximately $30,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director T Michael Glenn purchased 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of $1.47 per share, with a total value of $73,500.00. Following the completion of the acquisition, the director now owns 272,019 shares of the company’s stock, valued at $399,867.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director James Fowler acquired 30,000 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $1.50 per share, for a total transaction of $45,000.00. Following the completion of the purchase, the director now owns 183,038 shares of the company’s stock, valued at approximately $274,557. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director T Michael Glenn acquired 50,000 shares of the stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $1.47 per share, with a total value of $73,500.00. Following the completion of the purchase, the director now directly owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 113,500 shares of company stock valued at $174,780. 1.68% of the stock is currently owned by insiders.

Lumen Technologies Stock Down 0.8 %

NYSE LUMN traded down $0.01 on Wednesday, hitting $1.32. The stock had a trading volume of 6,727,620 shares, compared to its average volume of 13,125,123. The business’s fifty day moving average price is $1.56 and its 200 day moving average price is $1.48. 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, Inc. has a 52-week low of $0.78 and a 52-week high of $2.70. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -0.13 and a beta of 1.10.

Lumen Technologies (NYSE:LUMN) last released its quarterly 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 negative net margin of 70.74% and a positive return on equity of 4.85%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities research analysts anticipate that Lumen Technologies, Inc. will post -0.24 earnings per share for the current year.

Lumen Technologies Company 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.