Avior Wealth Management LLC Acquires 8,120 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Avior Wealth Management LLC boosted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 26.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,188 shares of the technology company’s stock after purchasing an additional 8,120 shares during the period. Avior Wealth Management LLC’s holdings in Lumen Technologies were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stephens Inc. AR lifted its position in shares of Lumen Technologies by 7.7% during the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock valued at $192,000 after buying an additional 1,935 shares in the last quarter. Concord Wealth Partners lifted 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 valued at $28,000 after purchasing an additional 1,992 shares in the last quarter. US Bancorp DE boosted its position in shares of Lumen Technologies by 18.6% in the third quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,350 shares during the period. Xponance Inc. increased its stake in shares of Lumen Technologies by 4.0% in the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after purchasing an additional 2,487 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Lumen Technologies by 23.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock valued at $95,000 after purchasing an additional 2,554 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LUMN. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group increased their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Bank of America upped their price target on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Thursday, August 8th. TD Cowen reduced their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.02.

Lumen Technologies Trading Up 0.5 %

LUMN stock opened at $7.89 on Friday. The firm has a fifty day moving average price of $7.15 and a 200 day moving average price of $4.23. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The firm has a market cap of $8.01 billion, a PE ratio of -3.64 and a beta of 1.21. 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 (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. Sell-side analysts anticipate 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 the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by insiders.

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.