Crossmark Global Holdings Inc. Purchases New Position in Lumen Technologies, Inc. (NYSE:LUMN)

Crossmark Global Holdings Inc. acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 61,052 shares of the technology company's stock, valued at approximately $433,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Concord Wealth Partners boosted its holdings in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock worth $28,000 after buying an additional 1,992 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Lumen Technologies during the 3rd quarter valued at about $46,000. GAMMA Investing LLC boosted its holdings in shares of Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company's stock valued at $49,000 after buying an additional 6,504 shares during the period. ORG Wealth Partners LLC bought a new position in Lumen Technologies during the 3rd quarter worth about $59,000. Finally, Stableford Capital II LLC acquired a new stake in Lumen Technologies in the 3rd quarter valued at approximately $71,000. Institutional investors own 66.19% of the company's stock.

Insider Buying and Selling

In other news, Director James Fowler acquired 10,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares of the company's stock, valued at $1,805,063.20. This represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by company insiders.

Lumen Technologies Stock Down 1.0 %

Lumen Technologies stock traded down $0.09 during mid-day trading on Friday, reaching $8.54. The stock had a trading volume of 12,081,278 shares, compared to its average volume of 21,001,390. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of -3.94 and a beta of 1.21. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The company has a 50-day moving average price of $6.93 and a two-hundred day moving average price of $4.04.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate 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 revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LUMN. Moffett Nathanson raised their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research note on Wednesday, August 7th. TD Cowen dropped their price target on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Bank of America increased their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an "underperform" rating in a research report on Thursday, August 8th. The Goldman Sachs Group upped 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. Finally, Wells Fargo & Company cut Lumen Technologies from an "equal weight" rating to an "underweight" rating and raised their price target for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $4.02.

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.