Lumen Technologies, Inc. (NYSE:LUMN) Stock Position Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,009,058 shares of the technology company's stock after selling 69,100 shares during the period. New York State Teachers Retirement System owned about 0.10% of Lumen Technologies worth $3,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in shares of Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after acquiring an additional 4,277 shares during the period. Lazard Asset Management LLC lifted its position 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 valued at $39,000 after acquiring an additional 7,307 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Lumen Technologies during the 1st quarter worth approximately $43,000. Quantinno Capital Management LP purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $54,000. Finally, Seeds Investor LLC purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $57,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Down 0.3%

Shares of LUMN traded down $0.02 during midday trading on Thursday, hitting $4.52. The company had a trading volume of 6,312,720 shares, compared to its average volume of 19,527,884. The company's 50 day moving average price is $4.15 and its 200 day moving average price is $4.48. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of -14.56 and a beta of 1.39. Lumen Technologies, Inc. has a 52 week low of $1.04 and a 52 week 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.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LUMN. Raymond James Financial raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective for the company in a research note on Monday, May 5th. BNP Paribas raised shares of 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 assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of "Hold" and an average target price of $4.58.

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.