Baader Bank Aktiengesellschaft Cuts Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Baader Bank Aktiengesellschaft trimmed its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 254,528 shares of the technology company's stock after selling 97,243 shares during the period. Baader Bank Aktiengesellschaft's holdings in Lumen Technologies were worth $1,351,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hennessy Advisors Inc. purchased a new position in Lumen Technologies in the 4th quarter worth approximately $45,089,000. Millennium Management LLC lifted its stake in Lumen Technologies by 129.8% in the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock worth $8,640,000 after purchasing an additional 4,436,710 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Lumen Technologies by 1,081.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company's stock worth $16,819,000 after purchasing an additional 2,168,325 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Lumen Technologies in the 3rd quarter worth approximately $10,062,000. Finally, AQR Capital Management LLC lifted its stake in Lumen Technologies by 52.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company's stock worth $3,712,000 after purchasing an additional 1,246,289 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Performance

LUMN traded down $0.02 on Thursday, reaching $5.00. The company had a trading volume of 4,927,798 shares, compared to its average volume of 10,222,284. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The stock has a market capitalization of $5.07 billion, a PE ratio of -2.30 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. The stock has a 50-day moving average price of $6.08 and a 200-day moving average price of $5.87.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LUMN shares. Citigroup lifted their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a research report on Friday, November 29th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price target (up previously from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. TD Cowen reduced their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $4.66.

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.