Victory Capital Management Inc. Acquires 115,347 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Victory Capital Management Inc. boosted its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,448,046 shares of the technology company's stock after purchasing an additional 115,347 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Lumen Technologies worth $9,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in Lumen Technologies by 92.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company's stock worth $157,000 after purchasing an additional 19,216 shares during the period. Lazard Asset Management LLC grew its holdings in 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 worth $39,000 after purchasing an additional 7,307 shares during the period. Raymond James Financial Inc. purchased a new stake in Lumen Technologies in the fourth quarter worth about $1,624,000. Ritholtz Wealth Management purchased a new stake in shares of Lumen Technologies during the first quarter valued at approximately $43,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Lumen Technologies by 88.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company's stock valued at $331,000 after buying an additional 39,619 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Performance

LUMN stock traded up $0.16 on Monday, hitting $4.49. The company had a trading volume of 9,402,926 shares, compared to its average volume of 7,632,381. Lumen Technologies, Inc. has a 12-month low of $1.75 and a 12-month 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. The stock's 50-day simple moving average is $4.23 and its 200 day simple moving average is $4.36. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of -14.48 and a beta of 1.39.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the company posted ($0.04) earnings per share. The firm's quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUMN has been the topic of a number of recent analyst reports. Raymond James Financial upgraded 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 report on Monday, May 5th. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen cut shares of Lumen Technologies from a "hold" rating to a "sell" rating in a report on Saturday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average 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.