GTS Securities LLC Decreases Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

GTS Securities LLC decreased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 96.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,369 shares of the technology company's stock after selling 438,860 shares during the period. GTS Securities LLC's holdings in Lumen Technologies were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Lumen Technologies by 173.3% in the fourth 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 in the last quarter. Lazard Asset Management LLC grew its holdings in Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after purchasing an additional 7,307 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Lumen Technologies in the fourth quarter worth $48,000. Quantinno Capital Management LP acquired a new stake in shares of Lumen Technologies in the fourth quarter worth $54,000. Finally, Seeds Investor LLC acquired a new stake in shares of Lumen Technologies in the fourth quarter worth $57,000. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Down 4.9%

NYSE:LUMN traded down $0.20 on Wednesday, reaching $3.91. 12,273,683 shares of the stock traded hands, compared to its average volume of 19,471,136. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -78.18 and a beta of 1.34. The company's 50 day moving average is $3.75 and its 200-day moving average is $4.93. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33.

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

Analyst Upgrades and Downgrades

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