Penn Capital Management Company LLC Has $18.52 Million Holdings in Lumen Technologies, Inc. $LUMN

Penn Capital Management Company LLC lessened its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,376,354 shares of the technology company’s stock after selling 367,703 shares during the period. Lumen Technologies accounts for 1.5% of Penn Capital Management Company LLC’s holdings, making the stock its 14th biggest holding. Penn Capital Management Company LLC owned about 0.23% of Lumen Technologies worth $18,515,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Bleakley Financial Group LLC acquired a new position in shares of Lumen Technologies during the fourth quarter worth $210,000. Hantz Financial Services Inc. lifted its holdings in shares of Lumen Technologies by 3,093.3% during the fourth quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $48,000 after purchasing an additional 6,032 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Lumen Technologies by 7.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 21,887 shares of the technology company’s stock valued at $170,000 after buying an additional 1,582 shares during the period. Handelsbanken Fonder AB lifted its holdings in Lumen Technologies by 14.6% in the fourth quarter. Handelsbanken Fonder AB now owns 269,400 shares of the technology company’s stock valued at $2,093,000 after buying an additional 34,300 shares during the period. Finally, Profund Advisors LLC lifted its holdings in Lumen Technologies by 93.5% in the fourth quarter. Profund Advisors LLC now owns 82,711 shares of the technology company’s stock valued at $643,000 after buying an additional 39,956 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Ratings Changes

LUMN has been the topic of several recent analyst reports. Zacks Research lowered shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. TD Cowen boosted their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Raymond James Financial restated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Wells Fargo & Company boosted their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lumen Technologies presently has a consensus rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Trading Up 7.8%

Shares of NYSE LUMN opened at $10.14 on Wednesday. The firm’s 50-day moving average price is $8.15 and its 200-day moving average price is $8.07. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95. The firm has a market capitalization of $10.45 billion, a P/E ratio of -5.83 and a beta of 1.65.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the company earned ($0.13) EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts forecast that Lumen Technologies, Inc. will post -0.39 EPS 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.