Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 103.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170,464 shares of the technology company's stock after purchasing an additional 86,637 shares during the period. SG Americas Securities LLC's holdings in Lumen Technologies were worth $668,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $408,000 after buying an additional 2,220 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock valued at $182,000 after buying an additional 2,457 shares during the period. Los Angeles Capital Management LLC grew its holdings in Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock valued at $78,000 after buying an additional 2,489 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings 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 valued at $111,000 after buying an additional 2,844 shares during the period. Finally, Bank of Nova Scotia grew its holdings 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 valued at $73,000 after buying an additional 3,069 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Down 0.7%

Shares of LUMN stock traded down $0.03 during mid-day trading on Friday, reaching $3.95. The company's stock had a trading volume of 16,310,313 shares, compared to its average volume of 19,473,467. The company's 50 day simple moving average is $3.86 and its 200-day simple moving average is $4.63. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month 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. The firm has a market capitalization of $4.06 billion, a PE ratio of -12.75 and a beta of 1.38.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James Financial raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a research note on Monday, May 5th. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised 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 research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lumen Technologies has a consensus rating of "Hold" and an average price target 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.