Lumen Technologies, Inc. (NYSE:LUMN) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 59.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 83,827 shares of the technology company’s stock after purchasing an additional 31,145 shares during the period. SG Americas Securities LLC’s holdings in Lumen Technologies were worth $445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter valued at $45,089,000. Millennium Management LLC lifted its holdings in Lumen Technologies by 129.8% during the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after purchasing an additional 4,436,710 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Lumen Technologies by 1,081.0% in the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock valued at $16,819,000 after purchasing an additional 2,168,325 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Lumen Technologies during the third quarter worth about $10,062,000. Finally, AQR Capital Management LLC lifted its stake in Lumen Technologies by 52.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock valued at $3,712,000 after buying an additional 1,246,289 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 1.5 %

Shares of LUMN opened at $4.93 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The firm has a 50-day moving average price of $5.96 and a 200 day moving average price of $5.95. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The firm has a market capitalization of $5.00 billion, a P/E ratio of -2.27 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. Sell-side analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on LUMN. The Goldman Sachs Group boosted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. 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 restated a “sector perform” rating and issued a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Finally, Citigroup increased their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.66.

About Lumen Technologies

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.