Lumen Technologies, Inc. (NYSE:LUMN) Position Increased by Pathstone Holdings LLC

Pathstone Holdings LLC grew its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 7.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 442,441 shares of the technology company’s stock after acquiring an additional 29,091 shares during the period. Pathstone Holdings LLC’s holdings in Lumen Technologies were worth $3,141,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Lumen Technologies during the third quarter valued at $433,000. Congress Asset Management Co. purchased a new stake in Lumen Technologies during the third quarter valued at about $2,592,000. Quadrature Capital Ltd acquired a new position in shares of Lumen Technologies in the first quarter worth about $468,000. Mackenzie Financial Corp increased its position in shares of Lumen Technologies by 267.4% in the second quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock worth $260,000 after acquiring an additional 172,040 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Lumen Technologies during the third quarter valued at approximately $2,710,000. 66.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LUMN shares. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Moffett Nathanson increased 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. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Finally, TD Cowen decreased their price target 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. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Trading Up 0.4 %

Shares of NYSE LUMN opened at $7.88 on Monday. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of -3.63 and a beta of 1.21. The business has a 50 day simple moving average of $7.15 and a 200 day simple moving average of $4.27. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33.

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

Insiders Place Their Bets

In other news, Director James Fowler acquired 10,000 shares of Lumen Technologies stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.68% of the company’s stock.

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.