Polianta Ltd Purchases 143,200 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Polianta Ltd lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 109.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 273,600 shares of the technology company's stock after acquiring an additional 143,200 shares during the quarter. Polianta Ltd's holdings in Lumen Technologies were worth $1,072,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Empowered Funds LLC acquired a new position in Lumen Technologies during the 4th quarter worth $1,139,000. Atria Wealth Solutions Inc. acquired a new stake in Lumen Technologies in the 4th quarter valued at approximately $69,000. Lazard Asset Management LLC boosted its holdings 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 acquiring an additional 7,307 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of 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 purchasing an additional 2,844 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Lumen Technologies during the 4th quarter worth $1,624,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Price Performance

LUMN traded down $0.17 during midday trading on Friday, reaching $4.04. 9,224,668 shares of the company's stock were exchanged, compared to its average volume of 19,550,787. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The business has a 50-day simple moving average of $3.82 and a two-hundred day simple moving average of $4.76. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -80.68 and a beta of 1.38. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33.

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 for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the business posted ($0.04) earnings per share. The business's revenue was down 3.3% compared to the same quarter last year. As a group, research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

LUMN has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a report on Friday, February 21st. Raymond James raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective on the stock in a report on Monday, May 5th. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.