Algert Global LLC Boosts Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Algert Global LLC increased its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 188.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,530 shares of the technology company's stock after purchasing an additional 191,830 shares during the quarter. Algert Global LLC's holdings in Lumen Technologies were worth $2,084,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LUMN. Sawgrass Asset Management LLC boosted its stake in shares of Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock valued at $25,000 after purchasing an additional 9,263 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Lumen Technologies during the 2nd quarter valued at $25,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Lumen Technologies in the 2nd quarter valued at $26,000. Concord Wealth Partners raised its position in shares of Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock worth $28,000 after acquiring an additional 1,992 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Lumen Technologies during the 2nd quarter worth $33,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on LUMN shares. UBS Group lifted their target price on Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $1.75 to $4.00 in a research note on Friday, August 16th. Bank of America raised their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an "underperform" rating in a research note on Thursday, August 8th. Moffett Nathanson upped their price target on Lumen Technologies from $1.00 to $3.00 and gave the stock a "sell" rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.02.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN traded down $0.28 during trading on Thursday, hitting $7.37. The stock had a trading volume of 10,030,123 shares, compared to its average volume of 19,701,244. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of -3.40 and a beta of 1.21. The stock has a 50-day simple moving average of $7.22 and a two-hundred day simple moving average of $4.38.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business's quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) earnings per share. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. This trade represents a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.68% of the stock is owned by corporate insiders.

Lumen Technologies Company 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.