Straight Path Wealth Management Sells 20,000 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Straight Path Wealth Management trimmed its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 50.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,000 shares of the technology company’s stock after selling 20,000 shares during the quarter. Straight Path Wealth Management’s holdings in Lumen Technologies were worth $106,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LUMN. Empowered Funds LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter worth approximately $1,139,000. Strategic Financial Concepts LLC grew its position in Lumen Technologies by 430.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock valued at $952,000 after acquiring an additional 145,542 shares during the last quarter. Polianta Ltd purchased a new stake in Lumen Technologies in the fourth quarter worth $692,000. Mariner Investment Group LLC bought a new stake in shares of Lumen Technologies during the fourth quarter worth $531,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Lumen Technologies during the third quarter valued at $433,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Up 7.6 %

Shares of NYSE LUMN opened at $5.18 on Thursday. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The business has a fifty day moving average price of $5.15 and a 200 day moving average price of $6.15. The stock has a market capitalization of $5.25 billion, a P/E ratio of -103.48 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Equities research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LUMN shares. TD Cowen decreased their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.59.

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.