Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 70.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,242 shares of the technology company's stock after selling 63,092 shares during the quarter. Nisa Investment Advisors LLC's holdings in Lumen Technologies were worth $103,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Lumen Technologies by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company's stock worth $408,000 after purchasing an additional 2,220 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Lumen Technologies by 7.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after purchasing an additional 2,457 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Lumen Technologies by 15.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock worth $111,000 after buying an additional 2,844 shares during the last quarter. Bank of Nova Scotia lifted its position in Lumen Technologies by 28.6% in the 4th quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company's stock worth $73,000 after buying an additional 3,069 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in Lumen Technologies by 9.8% in the first quarter. Avior Wealth Management LLC now owns 45,960 shares of the technology company's stock valued at $180,000 after purchasing an additional 4,115 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

Lumen Technologies Price Performance

LUMN traded down $0.03 on Friday, hitting $4.36. 7,072,548 shares of the company's stock traded hands, compared to its average volume of 19,516,796. The company's 50 day simple moving average is $4.20 and its 200-day simple moving average is $4.42. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -14.06 and a beta of 1.39. Lumen Technologies, Inc. has a one year low of $1.39 and a one year high of $10.33. The company has a current ratio of 1.21, a quick 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, beating the consensus estimate of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. As a group, research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies Company 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.