KBC Group NV Reduces Position in Lumen Technologies, Inc. (NYSE:LUMN)

KBC Group NV reduced its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 89.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,258 shares of the technology company's stock after selling 321,674 shares during the quarter. KBC Group NV's holdings in Lumen Technologies were worth $154,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake 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 valued at $36,000 after purchasing an additional 4,277 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Lumen Technologies by 3,825.7% during the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock worth $39,000 after acquiring an additional 7,307 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Lumen Technologies in the 1st quarter valued at about $43,000. Quantinno Capital Management LP acquired a new stake in Lumen Technologies in the 4th quarter valued at about $54,000. Finally, Seeds Investor LLC acquired a new stake in Lumen Technologies in the 4th quarter valued at about $57,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LUMN shares. Raymond James Financial raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a research report on Monday, May 5th. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Price Performance

Shares of LUMN traded down $0.02 during mid-day trading on Thursday, hitting $4.52. The company's stock had a trading volume of 6,312,720 shares, compared to its average volume of 19,527,884. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98. The firm has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $4.48. The firm has a market capitalization of $4.63 billion, a P/E ratio of -14.56 and a beta of 1.39. Lumen Technologies, Inc. has a 1-year low of $1.04 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations 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 was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. Analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

About Lumen Technologies

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.