Lumen Technologies, Inc. $LUMN Shares Sold by Strs Ohio

Strs Ohio decreased its position in Lumen Technologies, Inc. (NYSE:LUMN) by 41.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,000 shares of the technology company’s stock after selling 104,800 shares during the quarter. Strs Ohio’s holdings in Lumen Technologies were worth $894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Lumen Technologies by 132.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after buying an additional 3,391 shares during the period. MRP Capital Investments LLC grew its position in Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock worth $29,000 after purchasing an additional 6,456 shares during the period. Firestone Capital Management acquired a new stake in shares of Lumen Technologies during the second quarter worth about $44,000. Finally, FreeGulliver LLC acquired a new position in shares of Lumen Technologies in the second quarter valued at approximately $44,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LUMN shares. Zacks Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Citigroup lowered Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Friday, October 31st. The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $9.19 on Thursday. The business has a 50-day moving average of $8.19 and a two-hundred day moving average of $6.89. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of -5.57 and a beta of 1.46. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Thursday, October 30th. The technology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.11. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.13) EPS. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.