UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $17.66 Million Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,487,354 shares of the technology company's stock after selling 229,281 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of Lumen Technologies worth $17,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LUMN. Sawgrass Asset Management LLC boosted its holdings in shares of Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock worth $25,000 after buying an additional 9,263 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Lumen Technologies in the second quarter valued at about $25,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Lumen Technologies during the 2nd quarter worth about $26,000. Concord Wealth Partners boosted its stake in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after purchasing an additional 1,992 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Lumen Technologies in the 2nd quarter valued at approximately $33,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Lumen Technologies Price Performance

Shares of Lumen Technologies stock traded up $0.53 during trading on Friday, hitting $7.00. 12,324,913 shares of the company's stock traded hands, compared to its average volume of 14,243,766. 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. The company has a market cap of $7.10 billion, a PE ratio of -3.23 and a beta of 1.21. The firm's fifty day moving average price is $7.21 and its 200 day moving average price is $4.64.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 net margin of 16.06% and a negative return on equity of 49.74%. The company's revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

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.