Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC boosted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 18.3% in the third quarter, HoldingsChannel reports. The firm owned 24,308 shares of the technology company’s stock after purchasing an additional 3,756 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Lumen Technologies were worth $173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Lumen Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after purchasing an additional 1,975,400 shares during the period. Front Street Capital Management Inc. raised its stake in Lumen Technologies by 30.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after acquiring an additional 2,697,423 shares in the last quarter. Renaissance Technologies LLC raised its stake in Lumen Technologies by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company’s stock valued at $9,761,000 after acquiring an additional 919,300 shares in the last quarter. Millennium Management LLC raised its stake in Lumen Technologies by 129.8% during the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after acquiring an additional 4,436,710 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Lumen Technologies by 52.5% during 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 acquiring an additional 1,246,289 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the transaction, the director now owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This trade represents a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.68% of the stock is owned by insiders.

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $8.54 on Monday. The business’s 50-day moving average price is $6.93 and its two-hundred day moving average price is $4.04. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The company has a market capitalization of $8.67 billion, a P/E ratio of -3.94 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) 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 the consensus estimate of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business’s revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) EPS. Analysts anticipate that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LUMN has been the topic of several recent analyst reports. Bank of America lifted their target price on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research note on Thursday, August 8th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $1.75 to $4.00 in a research note on Friday, August 16th. 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. Moffett Nathanson boosted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.02.

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.