Arkadios Wealth Advisors Has $95,000 Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Arkadios Wealth Advisors boosted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 23.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,367 shares of the technology company’s stock after buying an additional 2,554 shares during the quarter. Arkadios Wealth Advisors’ holdings in Lumen Technologies were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Lumen Technologies in the 3rd quarter worth $46,000. GAMMA Investing LLC grew its position in Lumen Technologies by 1,901.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after purchasing an additional 6,504 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Lumen Technologies in the 3rd quarter worth $59,000. Stableford Capital II LLC acquired a new stake in Lumen Technologies in the 3rd quarter worth $71,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Lumen Technologies by 2,688.2% during the 3rd quarter. Sound Income Strategies LLC now owns 10,372 shares of the technology company’s stock worth $74,000 after acquiring an additional 10,000 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Up 9.5 %

Lumen Technologies stock opened at $7.00 on Friday. The stock has a market capitalization of $7.12 billion, a PE ratio of -3.33 and a beta of 1.19. Lumen Technologies, Inc. has a twelve month low of $0.78 and a twelve month high of $7.83. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. The company has a 50 day moving average of $6.24 and a 200-day moving average of $3.48.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on LUMN. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Bank of America boosted their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Moffett Nathanson lifted their price target on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, UBS Group boosted their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.09.

Lumen Technologies Company 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.