Stifel Financial Corp Lowers Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Stifel Financial Corp cut its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 9.2% in the third quarter, HoldingsChannel reports. The fund owned 123,385 shares of the technology company’s stock after selling 12,521 shares during the period. Stifel Financial Corp’s holdings in Lumen Technologies were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of LUMN. Stephens Inc. AR raised its position in Lumen Technologies by 7.7% during the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after acquiring an additional 1,935 shares during the period. Concord Wealth Partners increased its stake in shares of Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares in the last quarter. US Bancorp DE lifted its stake in Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after buying an additional 2,350 shares in the last quarter. Xponance Inc. boosted its holdings in Lumen Technologies by 4.0% in the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after buying an additional 2,487 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Lumen Technologies by 23.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock worth $95,000 after buying an additional 2,554 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

LUMN has been the subject of several research reports. TD Cowen dropped their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. Citigroup boosted their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.66.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $5.82 on Wednesday. The company’s 50 day moving average is $7.13 and its two-hundred day moving average is $5.09. The firm has a market cap of $5.91 billion, a PE ratio of -2.68 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. Lumen Technologies’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. On average, research analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

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.