Algert Global LLC Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Algert Global LLC purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 101,700 shares of the technology company's stock, valued at approximately $112,000.

Other institutional investors have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at about $264,000. Vanguard Group Inc. lifted its stake in Lumen Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company's stock valued at $216,540,000 after acquiring an additional 927,331 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in Lumen Technologies in the 4th quarter valued at approximately $27,000. Carolina Wealth Advisors LLC grew its stake in shares of Lumen Technologies by 158.8% during the 1st quarter. Carolina Wealth Advisors LLC now owns 53,518 shares of the technology company's stock worth $83,000 after acquiring an additional 32,840 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new stake in shares of Lumen Technologies in the first quarter valued at approximately $48,000. Institutional investors own 66.19% of the company's stock.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN traded down $0.08 on Friday, hitting $6.20. The company had a trading volume of 9,031,358 shares, compared to its average volume of 20,071,621. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of -0.57 and a beta of 1.19. The stock has a 50 day moving average price of $5.97 and a 200 day moving average price of $2.97. Lumen Technologies, Inc. has a 1-year low of $0.78 and a 1-year high of $7.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm's revenue was down 10.7% compared to the same quarter last year. Analysts expect that Lumen Technologies, Inc. will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

LUMN has been the subject of several recent research reports. TD Cowen increased their target price on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a "hold" rating in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Lumen Technologies from an "equal weight" rating to an "underweight" rating and lifted their target price for the company from $1.75 to $4.00 in a research report on Friday, August 16th. UBS Group increased their price target on Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $1.25 to $3.15 in a research note on Tuesday, August 6th. Finally, 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. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.09.

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.