Y Intercept Hong Kong Ltd Has $230,000 Holdings in Lumen Technologies, Inc. $LUMN

Key Points

• Y Intercept Hong Kong Ltd cut its Lumen Technologies stake by 88.6% in the first quarter, leaving it with 33,071 shares valued at about $230,000.
• Institutional interest in Lumen remains significant, with 66.19% of the stock owned by institutions; several big firms such as JPMorgan Chase, Norges Bank, and Price T Rowe also reported large position changes.
• Wall Street sentiment is cautious: analysts currently have an average rating of “Reduce” with a consensus price target of $7.91, while Lumen’s latest results missed EPS expectations even as revenue came in above forecasts.

Y Intercept Hong Kong Ltd lessened its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 88.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,071 shares of the technology company's stock after selling 257,313 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Lumen Technologies were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Lumen Technologies by 324.7% in the fourth quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company's stock valued at $172,585,000 after buying an additional 16,981,326 shares during the period. Norges Bank bought a new position in Lumen Technologies during the 4th quarter worth approximately $106,557,000. Price T Rowe Associates Inc. MD grew its holdings in Lumen Technologies by 737.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,043,124 shares of the technology company's stock valued at $62,496,000 after purchasing an additional 7,082,560 shares during the period. Trexquant Investment LP increased its stake in Lumen Technologies by 481.2% in the fourth quarter. Trexquant Investment LP now owns 5,605,410 shares of the technology company's stock valued at $43,554,000 after purchasing an additional 4,640,911 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new stake in Lumen Technologies in the third quarter worth $16,837,000. 66.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LUMN. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a report on Tuesday, April 21st. Zacks Research lowered Lumen Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. UBS Group boosted their target price on Lumen Technologies from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on Lumen Technologies from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Finally, TD Cowen raised their price target on Lumen Technologies from $8.00 to $9.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $7.91.

Lumen Technologies Trading Up 1.2%

LUMN opened at $6.45 on Thursday. The stock has a market capitalization of $6.64 billion, a P/E ratio of -3.70 and a beta of 1.75. Lumen Technologies, Inc. has a 12 month low of $3.37 and a 12 month high of $11.95. The firm's fifty day simple moving average is $8.50 and its 200 day simple moving average is $8.02.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.34). The business had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.83 billion. The company's quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) EPS. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

Lumen Technologies Company 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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