Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Mariner Investment Group LLC

Mariner Investment Group LLC reduced its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 75.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,000 shares of the technology company's stock after selling 75,000 shares during the period. Lumen Technologies accounts for about 0.0% of Mariner Investment Group LLC's holdings, making the stock its 24th biggest holding. Mariner Investment Group LLC's holdings in Lumen Technologies were worth $98,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC boosted 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 purchasing an additional 7,307 shares during the period. Conning Inc. acquired a new position in shares of Lumen Technologies in the first quarter valued at approximately $39,000. OneDigital Investment Advisors LLC acquired a new position in shares of Lumen Technologies in the first quarter valued at approximately $41,000. Ritholtz Wealth Management acquired a new position in shares of Lumen Technologies in the first quarter valued at approximately $43,000. Finally, Stratos Wealth Advisors LLC acquired a new position in shares of Lumen Technologies in the first quarter valued at approximately $44,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LUMN. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $4.58.

Lumen Technologies Stock Up 1.5%

Shares of Lumen Technologies stock traded up $0.07 on Wednesday, hitting $4.52. 2,613,784 shares of the company's stock traded hands, compared to its average volume of 19,392,988. The stock has a market cap of $4.63 billion, a P/E ratio of -14.56 and a beta of 1.39. 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's 50-day moving average is $4.20 and its 200 day moving average is $4.40. Lumen Technologies, Inc. has a 52-week low of $1.43 and a 52-week high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The company had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the business posted ($0.04) EPS. The business's revenue was down 3.3% on a year-over-year basis. Equities analysts anticipate 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.