PEAK6 LLC Sells 135,489 Shares of Lumen Technologies, Inc. $LUMN

PEAK6 LLC lowered its position in Lumen Technologies, Inc. (NYSE:LUMN) by 73.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 50,111 shares of the technology company’s stock after selling 135,489 shares during the quarter. PEAK6 LLC’s holdings in Lumen Technologies were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Lumen Technologies by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock valued at $694,942,000 after acquiring an additional 1,295,177 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Lumen Technologies by 58.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock worth $37,050,000 after acquiring an additional 1,755,368 shares during the period. Private Advisory Group LLC purchased a new position in shares of Lumen Technologies in the fourth quarter valued at $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Lumen Technologies by 210.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock valued at $4,372,000 after purchasing an additional 381,391 shares in the last quarter. Finally, CapWealth Advisors LLC raised its stake in shares of Lumen Technologies by 3.2% during the 4th quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock valued at $52,057,000 after purchasing an additional 204,970 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Down 0.5%

LUMN opened at $8.16 on Friday. The business’s fifty day simple moving average is $9.04 and its 200 day simple moving average is $8.17. Lumen Technologies, Inc. has a 52 week low of $3.37 and a 52 week high of $11.95. The stock has a market cap of $8.41 billion, a PE ratio of -4.69 and a beta of 1.70.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.83 billion. The firm’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. As a group, equities analysts anticipate that Lumen Technologies, Inc. will post -0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on LUMN. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. UBS Group upped their price target on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st. TD Cowen raised their price objective on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Finally, Zacks Research cut shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Ten investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $7.91.

Lumen Technologies Company 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.