Universal Beteiligungs und Servicegesellschaft mbH Buys New Shares in Lumen Technologies, Inc. (NYSE:LUMN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Lumen Technologies, purchasing 140,571 shares valued at approximately $551,000 during the first quarter.
• Lumen Technologies reported a quarterly earnings per share of ($0.03), surpassing analysts' expectations, despite a revenue decline of 5.4% compared to the previous year.
• Analyst ratings for Lumen Technologies show a current average rating of "Hold", with updates including a price target increase from $4.50 to $5.00 by Raymond James Financial.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 140,571 shares of the technology company's stock, valued at approximately $551,000.

Several other institutional investors have also added to or reduced their stakes in LUMN. Wealth Enhancement Advisory Services LLC grew its position 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 increased its holdings in shares of Lumen Technologies by 7.7% in 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 during the last quarter. Bank of Nova Scotia increased its holdings in shares of Lumen Technologies by 28.6% in the fourth quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company's stock worth $73,000 after purchasing an additional 3,069 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Lumen Technologies by 9.8% during the 1st quarter. Avior Wealth Management LLC now owns 45,960 shares of the technology company's stock valued at $180,000 after buying an additional 4,115 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in shares of Lumen Technologies by 5.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 105,892 shares of the technology company's stock valued at $562,000 after buying an additional 5,153 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Price Performance

LUMN stock traded down $0.04 during trading on Wednesday, reaching $3.72. The company's stock had a trading volume of 5,176,108 shares, compared to its average volume of 12,190,459. The company has a market capitalization of $3.81 billion, a P/E ratio of -3.16 and a beta of 1.43. The company's fifty day moving average is $4.26 and its 200-day moving average is $4.31. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.21. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.11 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. The company's revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) earnings per share. On average, research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LUMN has been the subject of several analyst reports. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Wall Street Zen raised shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Raymond James Financial lifted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.64.

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.