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

KBC Group NV trimmed its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 89.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after acquiring an additional 4,277 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after buying an additional 7,307 shares during the period. Ritholtz Wealth Management acquired a new stake in Lumen Technologies during the 1st quarter worth approximately $43,000. Quantinno Capital Management LP bought a new stake in Lumen Technologies during the 4th quarter worth approximately $54,000. Finally, Seeds Investor LLC acquired a new position in Lumen Technologies in the 4th quarter valued at approximately $57,000. Institutional investors own 66.19% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on LUMN shares. Raymond James Financial raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective on the stock in a research note on Monday, May 5th. BNP Paribas raised Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Stock Down 3.9%

NYSE:LUMN traded down $0.18 during trading hours on Monday, reaching $4.42. The company had a trading volume of 9,916,892 shares, compared to its average volume of 19,588,233. The business's 50-day simple moving average is $4.09 and its two-hundred day simple moving average is $4.49. Lumen Technologies, Inc. has a twelve month low of $1.02 and a twelve month high of $10.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 59.98. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of -14.26 and a beta of 1.39.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) earnings per share. On average, equities analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies 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.