Neo Ivy Capital Management Buys Shares of 80,336 Lumen Technologies, Inc. (NYSE:LUMN)

Neo Ivy Capital Management purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 80,336 shares of the technology company's stock, valued at approximately $570,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its stake in Lumen Technologies by 129.8% during the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock valued at $8,640,000 after acquiring an additional 4,436,710 shares in the last quarter. Front Street Capital Management Inc. boosted its holdings in shares of Lumen Technologies by 30.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock valued at $12,827,000 after purchasing an additional 2,697,423 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Lumen Technologies by 1,081.0% during the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company's stock valued at $16,819,000 after purchasing an additional 2,168,325 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Lumen Technologies in the third quarter worth about $10,062,000. Finally, AQR Capital Management LLC lifted its position in shares of Lumen Technologies by 52.5% in the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company's stock worth $3,712,000 after buying an additional 1,246,289 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Trading Down 1.4 %

Shares of Lumen Technologies stock traded down $0.09 during trading on Thursday, hitting $6.40. The stock had a trading volume of 8,789,922 shares, compared to its average volume of 19,382,254. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The firm's fifty day simple moving average is $7.18 and its 200-day simple moving average is $4.78. The stock has a market cap of $6.49 billion, a PE ratio of -2.95 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the previous year, the business earned ($0.09) EPS. The firm's revenue for the quarter was down 11.5% on a year-over-year basis. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on LUMN shares. The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Wells Fargo & Company downgraded shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and upped their price target for the company from $1.75 to $4.00 in a research note on Friday, August 16th. TD Cowen dropped their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup boosted their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, Lumen Technologies has an average rating of "Hold" and a consensus target price of $4.71.

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.