Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. trimmed its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 313,484 shares of the technology company’s stock after selling 5,322 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Lumen Technologies were worth $1,665,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LUMN. Sanctuary Advisors LLC purchased a new stake in shares of Lumen Technologies during the 2nd quarter worth $25,000. Concord Wealth Partners raised its holdings in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Lumen Technologies in the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lumen Technologies in the third quarter valued at $36,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Lumen Technologies during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Cowen cut their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup raised their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and an average target price of $4.66.

Lumen Technologies Trading Down 2.4 %

Shares of Lumen Technologies stock opened at $4.60 on Tuesday. The firm has a market cap of $4.66 billion, a PE ratio of -91.88 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The business’s fifty day moving average is $5.47 and its two-hundred day moving average is $6.17.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Analysts anticipate that Lumen Technologies, Inc. will post -0.79 earnings per share 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.