BlackRock Fund Advisors recently announced the acquisition of new stake in Lumen Technologies Inc (NYSE:LUMN). The institutional investor has increased its shareholding in the Communication Services company by 1.41% to 131.0 million shares with purchase of 1.82 million shares. This fresh investment now brings its stake to 12.99% valued currently at $239.74 million. In addition, The Vanguard Group, Inc. raised its holdings by 2.82 million to 115.66 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.92% or 1.51 million shares – to 53.17 million shares.
Currently, there are 1.00B common shares owned by the public and among those 989.37M shares have been available to trade.
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Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 13,474,835 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 3,714,453 shares.
The top 3 mutual fund holders in Lumen Technologies Inc are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 47.06 million shares of the company’s stock, all valued at over $86.12 million. Vanguard Total Stock Market ETF bought 39087.0 shares to see its total holdings expand to 31.78 million shares valued at over $58.16 million and representing 3.15% of the shares outstanding. iShares Russell 2000 ETF sold 74160.0 shares to bring its total holdings to over 28.01 million shares at a value of $51.26 million. iShares Russell 2000 ETF now owns shares totaling to 2.78% of the shares outstanding.
However, the script later moved the day high at 1.5699, up 1.45%. The company’s stock has a 5-day price change of 6.06% and 4.48% over the past three months. LUMN shares are trading -23.50% year to date (YTD), with the 12-month market performance down to -73.58% lower. It has a 12-month low price of $0.78 and touched a high of $5.78 over the same period. LUMN has an average intraday trading volume of 17.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.75%, -8.45%, and -19.25% respectively.
Institutional ownership of Lumen Technologies Inc (NYSE: LUMN) shares accounts for 67.54% of the company’s 1.00B shares outstanding. Mutual fund holders own 27.25%, while other institutional holders and individual stakeholders account for 40.54% and 2.15% respectively.
It has a market capitalization of $1.41B and a beta (3y monthly) value of 1.00. The earnings-per-share (ttm) stands at -$11.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.47% over the week and 8.60% over the month.
Analysts forecast that Lumen Technologies Inc (LUMN) will achieve an EPS of $Golden Minerals Company for the current quarter, $0.44 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Lumos Pharma, Inc. while analysts give the company a high EPS estimate of $LUMBEE GUARANTY BANK PEMBROKE N. Comparatively, EPS for the current quarter was $LUMP a year ago. Earnings per share for the fiscal year are expected to decrease by -93.79%, and -219.42% over the next financial year.
