Brookstone Capital Management Has $111,000 Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Brookstone Capital Management cut its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,921 shares of the technology company’s stock after selling 3,042 shares during the period. Brookstone Capital Management’s holdings in Lumen Technologies were worth $111,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in shares of Lumen Technologies during the 2nd quarter worth about $25,000. Concord Wealth Partners boosted its position in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,992 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Lumen Technologies during the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lumen Technologies during the 3rd quarter worth approximately $36,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Lumen Technologies in the 3rd quarter valued at approximately $46,000. Institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. TD Cowen dropped their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average price target of $4.66.

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $5.65 on Monday. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of -2.60 and a beta of 1.28. The stock’s fifty day moving average price is $6.58 and its two-hundred day moving average price is $5.65. 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 (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

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.