SG Americas Securities LLC Has $374,000 Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

SG Americas Securities LLC trimmed its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 86.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,682 shares of the technology company's stock after selling 346,974 shares during the quarter. SG Americas Securities LLC's holdings in Lumen Technologies were worth $374,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Lumen Technologies during the 4th quarter worth approximately $264,000. Vanguard Group Inc. lifted its stake in Lumen Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company's stock valued at $216,540,000 after purchasing an additional 927,331 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in Lumen Technologies in the 4th quarter worth about $27,000. Fulton Bank N.A. purchased a new stake in shares of Lumen Technologies in the first quarter valued at $48,000. Finally, Range Financial Group LLC boosted its holdings in shares of Lumen Technologies by 129.6% during the first quarter. Range Financial Group LLC now owns 109,181 shares of the technology company's stock worth $170,000 after purchasing an additional 61,632 shares during the period. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Trading Up 9.1 %

LUMN traded up $0.56 during midday trading on Friday, reaching $6.74. 13,460,072 shares of the company's stock traded hands, compared to its average volume of 19,836,996. Lumen Technologies, Inc. has a 52 week low of $0.78 and a 52 week high of $7.83. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of -0.62 and a beta of 1.19. The firm has a fifty day moving average of $6.10 and a two-hundred day moving average of $3.14. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business earned $0.10 earnings per share. Lumen Technologies's revenue was down 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Lumen Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on LUMN. Moffett Nathanson upped their price target on Lumen Technologies from $1.00 to $3.00 and gave the stock a "sell" rating in a research note on Wednesday, August 7th. Citigroup upgraded shares of Lumen Technologies from a "sell" rating to a "neutral" rating and upped their target price for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. UBS Group boosted their price objective on Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. 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 report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an "underweight" rating to a "neutral" rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $4.09.

Insider Buying and Selling

In related news, Director James Fowler acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, with a total value of $47,000.00. Following the transaction, the director now owns 384,056 shares of the company's stock, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.68% of the company's stock.

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.