Allianz Asset Management GmbH Grows Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Allianz Asset Management GmbH raised its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 12.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,772,315 shares of the technology company's stock after purchasing an additional 982,038 shares during the period. Allianz Asset Management GmbH owned 0.86% of Lumen Technologies worth $34,387,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in Lumen Technologies by 3,825.7% in the 4th 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 during the period. Conning Inc. bought a new stake in Lumen Technologies in the first quarter worth approximately $39,000. Quantinno Capital Management LP bought a new stake in Lumen Technologies in the fourth quarter worth approximately $54,000. OneDigital Investment Advisors LLC bought a new stake in Lumen Technologies in the first quarter worth approximately $41,000. Finally, Seeds Investor LLC bought a new stake in shares of Lumen Technologies during the 4th quarter worth $57,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Stock Performance

Shares of NYSE LUMN traded down $0.15 during midday trading on Thursday, hitting $4.43. The company's stock had a trading volume of 7,414,416 shares, compared to its average volume of 9,570,354. The stock has a fifty day moving average price of $4.21 and a 200 day moving average price of $4.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a one year low of $1.48 and a one year high of $10.33. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of -14.27 and a beta of 1.39.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.16. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. Lumen Technologies's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. On average, research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James Financial upgraded shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a research report on Monday, May 5th. BNP Paribas raised shares of Lumen Technologies to a "hold" rating in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.