Sentinel Dome Partners LLC Takes $698,000 Position in Lumen Technologies, Inc. $LUMN

Sentinel Dome Partners LLC bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 89,816 shares of the technology company’s stock, valued at approximately $698,000. Lumen Technologies comprises about 0.5% of Sentinel Dome Partners LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also bought and sold shares of LUMN. Kemnay Advisory Services Inc. purchased a new stake in Lumen Technologies in the fourth quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new stake in Lumen Technologies during the 4th quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in Lumen Technologies during the 4th quarter valued at approximately $35,000. Fifth Third Bancorp boosted its holdings in shares of Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Lumen Technologies by 3,093.3% in the fourth quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $48,000 after acquiring an additional 6,032 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $8.16 on Friday. The business’s 50 day moving average price is $9.04 and its 200-day moving average price is $8.17. 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 $8.41 billion, a price-to-earnings ratio of -4.69 and a beta of 1.70.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the company earned ($0.13) EPS. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Lumen Technologies, Inc. will post -0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LUMN shares. JPMorgan Chase & Co. raised their target price on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Zacks Research downgraded Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Wells Fargo & Company boosted their price objective on Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, TD Cowen upped their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Profile

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.