Mariner Investment Group LLC Takes $531,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mariner Investment Group LLC purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the technology company's stock, valued at approximately $531,000. Lumen Technologies accounts for 0.1% of Mariner Investment Group LLC's holdings, making the stock its 27th largest position.

Several other institutional investors also recently modified their holdings of the stock. Stephens Inc. AR increased its position in shares of Lumen Technologies by 7.7% in the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company's stock worth $192,000 after purchasing an additional 1,935 shares during the last quarter. Concord Wealth Partners grew its position in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after acquiring an additional 1,992 shares during the last quarter. US Bancorp DE grew its position in Lumen Technologies by 18.6% during the third quarter. US Bancorp DE now owns 15,012 shares of the technology company's stock valued at $107,000 after acquiring an additional 2,350 shares during the last quarter. Xponance Inc. grew its position in Lumen Technologies by 4.0% during the second quarter. Xponance Inc. now owns 64,444 shares of the technology company's stock valued at $71,000 after acquiring an additional 2,487 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in Lumen Technologies by 23.6% during the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company's stock valued at $95,000 after acquiring an additional 2,554 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Trading Down 16.0 %

LUMN stock traded down $0.95 on Monday, reaching $4.98. The company's stock had a trading volume of 17,569,537 shares, compared to its average volume of 9,264,852. The business has a fifty day simple moving average of $6.25 and a two-hundred day simple moving average of $5.82. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The firm has a market cap of $5.05 billion, a PE ratio of -2.29 and a beta of 1.28. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20.

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 business had revenue of $3.22 billion during 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 revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LUMN shares. 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 research report on Wednesday, November 6th. 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. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Finally, Citigroup increased their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a research note on Friday, November 29th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $4.66.

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.