Breakthru Advisory Services LLC Buys Shares of 20,080 Lumen Technologies, Inc. (NYSE:LUMN)

Breakthru Advisory Services LLC purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,080 shares of the technology company’s stock, valued at approximately $107,000.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after purchasing an additional 4,277 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after buying an additional 7,307 shares in the last quarter. R Squared Ltd acquired a new position in shares of Lumen Technologies during the 4th quarter worth $48,000. Quantinno Capital Management LP purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $54,000. Finally, Seeds Investor LLC acquired a new stake in Lumen Technologies in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Up 0.8%

Shares of Lumen Technologies stock opened at $3.84 on Friday. 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 $3.87 and its two-hundred day moving average is $5.25. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The firm has a market cap of $3.94 billion, a PE ratio of -76.78 and a beta of 1.34.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. Analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LUMN. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a report on Friday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Raymond James raised Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price target for the company in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.58.

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.