Kestra Advisory Services LLC Has $2.25 Million Stake in Lumen Technologies, Inc. $LUMN

Key Points

• Kestra Advisory Services boosted its Lumen Technologies stake by 163.6% in the first quarter, ending with 323,813 shares valued at about $2.25 million.
• Several other institutional investors also adjusted their positions, and overall institutional ownership stands at 66.19% of Lumen’s stock.
• Wall Street remains cautious on Lumen: analysts have mostly Hold ratings, with a consensus rating of “Reduce” and an average price target of $7.91, while the stock recently traded at $6.25 after reporting weaker-than-expected quarterly earnings.

Kestra Advisory Services LLC lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 163.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 323,813 shares of the technology company's stock after buying an additional 200,969 shares during the period. Kestra Advisory Services LLC's holdings in Lumen Technologies were worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Ascentis Independent Advisors bought a new stake in shares of Lumen Technologies during the 1st quarter valued at $27,000. Berger Financial Group Inc bought a new position in shares of Lumen Technologies in the first quarter worth $81,000. Lee Danner & Bass Inc. raised its stake in Lumen Technologies by 708.0% in the first quarter. Lee Danner & Bass Inc. now owns 602,245 shares of the technology company's stock valued at $4,186,000 after purchasing an additional 527,710 shares in the last quarter. Revisor Wealth Management LLC raised its stake in Lumen Technologies by 6.0% in the first quarter. Revisor Wealth Management LLC now owns 37,395 shares of the technology company's stock valued at $260,000 after purchasing an additional 2,118 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in Lumen Technologies during the first quarter worth about $93,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on LUMN. Wall Street Zen raised shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. JPMorgan Chase & Co. upped their price target on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Wells Fargo & Company increased their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a research note on Tuesday, April 21st. Finally, TD Cowen upped their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $7.91.

Lumen Technologies Trading Down 0.4%

Shares of NYSE LUMN opened at $6.25 on Monday. The company has a market cap of $6.44 billion, a price-to-earnings ratio of -3.59 and a beta of 1.75. Lumen Technologies, Inc. has a 12 month low of $3.37 and a 12 month high of $11.95. The stock has a 50-day moving average price of $8.42 and a two-hundred day moving average price of $8.00.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.34). The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. The company's quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) EPS. On average, sell-side analysts predict that Lumen Technologies, Inc. will post -0.39 earnings per share for the current year.

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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