Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 203.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 404,207 shares of the technology company's stock after buying an additional 271,118 shares during the period. Intech Investment Management LLC's holdings in Lumen Technologies were worth $2,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC raised its stake in Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock valued at $25,000 after acquiring an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Lumen Technologies in the 2nd quarter valued at $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Lumen Technologies in the 2nd quarter valued at $26,000. Concord Wealth Partners raised its position in Lumen Technologies by 98.8% during the 3rd 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. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Lumen Technologies in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Up 0.4 %

LUMN stock traded up $0.03 on Friday, hitting $7.88. 13,741,348 shares of the company were exchanged, compared to its average volume of 18,712,902. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of -3.63 and a beta of 1.21. The business's fifty day moving average is $7.15 and its two-hundred day moving average is $4.27. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve 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.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its 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 firm 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 firm's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

In other news, Director James Fowler purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now owns 384,056 shares of the company's stock, valued at approximately $1,805,063.20. This trade represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company's stock.

Analyst Ratings Changes

LUMN has been the topic of a number of analyst reports. TD Cowen decreased their price target on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. UBS Group increased their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an "underweight" rating to a "neutral" rating in a report on Wednesday, August 7th. Finally, Citigroup raised Lumen Technologies from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $1.25 to $3.15 in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.02.

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.