Arrowstreet Capital Limited Partnership Has $55.28 Million Stock Position in Lumen Technologies, Inc. $LUMN

Key Points

• Arrowstreet Capital increased its Lumen Technologies stake by 8.3% in the first quarter, adding 610,364 shares and bringing its holdings to 7.95 million shares worth approximately $55.28 million.
• Lumen reported a quarterly loss of $0.47 per share, substantially missing the $0.13 consensus estimate, while revenue of $2.90 billion exceeded expectations but declined 8.9% year over year.
• Analyst sentiment remains cautious: nine analysts rate the stock Hold and one rates it Sell, producing an average “Reduce” rating and a consensus price target of $7.91.

Arrowstreet Capital Limited Partnership increased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,954,306 shares of the technology company's stock after buying an additional 610,364 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.77% of Lumen Technologies worth $55,282,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lumen Technologies by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company's stock worth $2,363,000 after acquiring an additional 26,305 shares during the last quarter. Empowered Funds LLC boosted its stake in Lumen Technologies by 26.8% in the first quarter. Empowered Funds LLC now owns 272,031 shares of the technology company's stock worth $1,066,000 after purchasing an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Lumen Technologies by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company's stock valued at $11,702,000 after buying an additional 300,328 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Lumen Technologies by 15.8% in the second quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company's stock valued at $524,000 after buying an additional 16,332 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Lumen Technologies by 6.3% in the second quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company's stock valued at $47,869,000 after buying an additional 652,124 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Price Performance

LUMN stock opened at $6.24 on Tuesday. The stock has a market capitalization of $6.43 billion, a P/E ratio of -3.58 and a beta of 1.75. Lumen Technologies, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $11.95. The business has a 50-day moving average of $8.07 and a 200-day moving average of $7.94.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its 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 company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm earned ($0.13) EPS. The business's quarterly revenue was down 8.9% compared to the same quarter last year. Equities analysts expect that Lumen Technologies, Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LUMN shares. TD Cowen lifted their target price on Lumen Technologies from $8.00 to $9.00 and gave the company a "hold" rating in a research note on Wednesday, May 6th. Zacks Research cut Lumen Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Wells Fargo & Company upped their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Finally, UBS Group raised their target price on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lumen Technologies currently has an average rating of "Reduce" and a consensus 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.

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