ORG Wealth Partners LLC Invests $59,000 in Lumen Technologies, Inc. (NYSE:LUMN)

ORG Wealth Partners LLC acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,373 shares of the technology company’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. increased its stake in shares of Lumen Technologies by 4.0% in the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after purchasing an additional 2,487 shares in the last quarter. CWM LLC increased its stake in Lumen Technologies by 49.6% in the 3rd quarter. CWM LLC now owns 15,692 shares of the technology company’s stock worth $111,000 after buying an additional 5,202 shares in the last quarter. Arizona State Retirement System raised its holdings in Lumen Technologies by 2.0% during the second quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock valued at $311,000 after acquiring an additional 5,418 shares during the period. GAMMA Investing LLC lifted its position in shares of Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock valued at $49,000 after acquiring an additional 6,504 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in shares of Lumen Technologies by 0.9% in the second quarter. Texas Permanent School Fund Corp now owns 888,228 shares of the technology company’s stock worth $977,000 after acquiring an additional 7,922 shares during the period. Institutional investors own 66.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director James Fowler bought 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.68% of the stock is owned by insiders.

Lumen Technologies Trading Up 1.6 %

LUMN opened at $6.18 on Wednesday. The stock has a 50-day moving average of $6.07 and a 200 day moving average of $3.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $7.83. The firm has a market cap of $6.27 billion, a P/E ratio of -0.56 and a beta of 1.19.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the firm posted $0.10 EPS. Lumen Technologies’s revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company cut Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. TD Cowen increased their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Friday, October 4th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, Lumen Technologies currently has an average rating of “Hold” and an average price target of $4.09.

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.