Mariner Investment Group LLC Has $98,000 Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mariner Investment Group LLC cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 75.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the technology company's stock after selling 75,000 shares during the period. Lumen Technologies makes up approximately 0.0% of Mariner Investment Group LLC's investment portfolio, making the stock its 24th largest holding. Mariner Investment Group LLC's holdings in Lumen Technologies were worth $98,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Lazard Asset Management LLC grew its stake in shares of 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. Conning Inc. bought a new position in Lumen Technologies in the first quarter valued at $39,000. Quantinno Capital Management LP acquired a new stake in Lumen Technologies in the 4th quarter valued at $54,000. OneDigital Investment Advisors LLC bought a new stake in Lumen Technologies during the 1st quarter worth about $41,000. Finally, Seeds Investor LLC acquired a new position in shares of Lumen Technologies during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Stock Performance

Lumen Technologies stock traded up $0.14 during mid-day trading on Tuesday, hitting $4.45. 6,020,854 shares of the company's stock traded hands, compared to its average volume of 19,412,720. The firm has a 50 day simple moving average of $4.20 and a two-hundred day simple moving average of $4.41. Lumen Technologies, Inc. has a fifty-two week low of $1.39 and a fifty-two week high of $10.33. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of -14.37 and a beta of 1.39. The company has a debt-to-equity ratio of 59.98, a current ratio of 1.21 and a quick ratio of 1.21.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (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 business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm posted ($0.04) EPS. The company's quarterly revenue was down 3.3% on a year-over-year basis. On average, research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LUMN. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. 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. 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.58.

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.