Focus Partners Wealth Acquires 157,439 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Focus Partners Wealth boosted its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 922.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 174,505 shares of the technology company's stock after acquiring an additional 157,439 shares during the period. Focus Partners Wealth's holdings in Lumen Technologies were worth $927,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in shares of Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after purchasing an additional 4,277 shares during the period. R Squared Ltd purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $48,000. Seeds Investor LLC purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $57,000. HB Wealth Management LLC purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $59,000. Finally, Marshall Wace LLP purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $61,000. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Performance

Shares of LUMN stock traded down $0.18 during trading hours on Wednesday, reaching $3.82. The company had a trading volume of 14,540,270 shares, compared to its average volume of 19,240,530. The business has a fifty day moving average price of $3.89 and a 200-day moving average price of $5.27. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The firm has a market cap of $3.91 billion, a PE ratio of -76.28 and a beta of 1.34. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business posted ($0.04) earnings per share. The business's revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LUMN has been the subject of several research analyst reports. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research report on Friday, February 21st. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Raymond James upgraded shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lumen Technologies presently has a consensus rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Company 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.