Los Angeles Capital Management LLC Acquires Shares of 12,271 Lumen Technologies, Inc. (NYSE:LUMN)

Los Angeles Capital Management LLC bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 12,271 shares of the technology company’s stock, valued at approximately $87,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. bought a new position in shares of Lumen Technologies in the first quarter valued at approximately $45,000. ProShare Advisors LLC raised its position in Lumen Technologies by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 226,243 shares of the technology company’s stock valued at $353,000 after purchasing an additional 17,243 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Lumen Technologies by 247.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock worth $1,784,000 after purchasing an additional 814,474 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Lumen Technologies by 22.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock worth $3,198,000 after purchasing an additional 401,399 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Lumen Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after buying an additional 1,975,400 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. UBS Group upped their price objective on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Finally, TD Cowen decreased their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Three investment 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Stock Down 4.7 %

Shares of Lumen Technologies stock opened at $8.14 on Tuesday. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The business has a fifty day simple moving average of $6.98 and a 200 day simple moving average of $4.09. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. The stock has a market cap of $8.26 billion, a PE ratio of -3.75 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period last year, the company earned ($0.09) earnings per share. The business’s revenue was down 11.5% compared to the same quarter last year. Research analysts predict that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This represents a 2.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.68% of the company’s stock.

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.