4,275 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Legacy Investment Solutions LLC

Legacy Investment Solutions LLC acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,275 shares of the technology company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of LUMN. Sawgrass Asset Management LLC raised its holdings in shares of Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Lumen Technologies during the second quarter valued at $25,000. ANTIPODES PARTNERS Ltd bought a new position in Lumen Technologies during the second quarter valued at $26,000. Concord Wealth Partners grew its stake in shares of Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter worth about $33,000. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup raised their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their target price for the company 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 research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Lumen Technologies currently has an average rating of “Hold” and a consensus price target of $4.71.

Lumen Technologies Trading Up 8.2 %

Shares of NYSE LUMN opened at $7.00 on Monday. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $7.10 billion, a price-to-earnings ratio of -3.23 and a beta of 1.21. The business’s 50 day moving average price is $7.21 and its 200-day moving average price is $4.68.

Lumen Technologies (NYSE:LUMN) last released its 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 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 revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. On average, sell-side analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

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.