UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Lumen Technologies, Inc. $LUMN

Key Points

• UBS Asset Management reduced its Lumen Technologies stake by 4.6% in the second quarter, selling 152,588 shares and retaining 3.16 million shares worth approximately $24.3 million. Institutional investors collectively own 66.19% of Lumen.
• Lumen reported quarterly revenue of $2.81 billion and an adjusted loss of $0.07 per share, exceeding analyst expectations, though revenue declined 9.3% year over year.
• Analyst sentiment remains cautious: nine analysts rate Lumen “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and a $7.86 price target. CEO Kathleen Johnson separately purchased 100,000 shares at an average price of $6.13.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,163,211 shares of the technology company's stock after selling 152,588 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Lumen Technologies worth $24,293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Lumen Technologies in the fourth quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in Lumen Technologies during the 4th quarter worth approximately $30,000. Versant Capital Management Inc lifted its stake in Lumen Technologies by 90.3% during the 2nd quarter. Versant Capital Management Inc now owns 3,920 shares of the technology company's stock valued at $30,000 after acquiring an additional 1,860 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of Lumen Technologies in the 1st quarter valued at $27,000. Finally, Trust Asset Management LLC purchased a new position in shares of Lumen Technologies during the second quarter worth $34,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Trading Down 1.4%

Shares of LUMN stock opened at $6.81 on Friday. Lumen Technologies, Inc. has a 12-month low of $4.57 and a 12-month high of $11.95. The business's 50 day moving average is $6.45 and its two-hundred day moving average is $7.56. The company has a market capitalization of $7.02 billion, a P/E ratio of -6.68 and a beta of 1.78.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. The business had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.74 billion. During the same quarter last year, the firm earned ($0.03) earnings per share. The firm's quarterly revenue was down 9.3% compared to the same quarter last year. On average, research analysts predict that Lumen Technologies, Inc. will post -0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LUMN has been the topic of several recent research reports. Citigroup cut their price target on Lumen Technologies from $10.00 to $8.25 and set a "neutral" rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Wells Fargo & Company decreased their price target on Lumen Technologies from $9.00 to $7.50 and set an "equal weight" rating for the company in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on Lumen Technologies from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group cut their target price on shares of Lumen Technologies from $8.50 to $7.25 and set a "neutral" rating for the company in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Lumen Technologies currently has a consensus rating of "Reduce" and a consensus target price of $7.86.

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen Johnson purchased 100,000 shares of Lumen Technologies stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $6.13 per share, for a total transaction of $613,000.00. Following the transaction, the chief executive officer directly owned 100,000 shares in the company, valued at approximately $613,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

Lumen Technologies Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company's core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.

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