Range Financial Group LLC raised its holdings in Lumen Technologies, Inc. (NYSE:LUMN – Free Report) by 129.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 109,181 shares of the technology company’s stock after buying an additional 61,632 shares during the period. Range Financial Group LLC’s holdings in Lumen Technologies were worth $170,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LUMN. Strategies Wealth Advisors LLC acquired a new stake in Lumen Technologies in the 4th quarter valued at $26,000. Brighton Jones LLC bought a new position in shares of Lumen Technologies in the 4th quarter valued at about $27,000. HighPoint Advisor Group LLC bought a new position in shares of Lumen Technologies in the 4th quarter valued at about $27,000. DekaBank Deutsche Girozentrale bought a new position in shares of Lumen Technologies in the 3rd quarter valued at about $30,000. Finally, Belpointe Asset Management LLC grew its position in shares of Lumen Technologies by 52.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after acquiring an additional 8,405 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.
Lumen Technologies Trading Down 2.3 %
Shares of LUMN opened at $1.05 on Tuesday. The firm has a 50-day moving average of $1.26 and a 200-day moving average of $1.46. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $2.34. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03.
Insider Buying and Selling
In related news, CEO Kathleen E. Johnson bought 750,000 shares of Lumen Technologies stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $1.28 per share, with a total value of $960,000.00. Following the acquisition, the chief executive officer now owns 7,756,290 shares of the company’s stock, valued at approximately $9,928,051.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is currently owned by insiders.
Lumen Technologies 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.
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