Thrivent Financial for Lutherans Sells 87,897 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Thrivent Financial for Lutherans decreased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 968,838 shares of the technology company's stock after selling 87,897 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of Lumen Technologies worth $5,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hennessy Advisors Inc. purchased a new stake in Lumen Technologies during the fourth quarter valued at about $45,089,000. Allianz Asset Management GmbH grew its holdings in Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock worth $41,366,000 after acquiring an additional 1,710,373 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lumen Technologies by 23.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company's stock valued at $21,399,000 after acquiring an additional 764,523 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Lumen Technologies by 46.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company's stock valued at $11,055,000 after purchasing an additional 664,823 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Lumen Technologies during the third quarter valued at approximately $2,909,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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Lumen Technologies Stock Down 9.9 %

Shares of LUMN stock traded down $0.48 during mid-day trading on Tuesday, hitting $4.38. The company's stock had a trading volume of 44,603,187 shares, compared to its average volume of 18,337,033. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -87.58 and a beta of 1.28. The business has a 50-day moving average price of $5.00 and a 200 day moving average price of $6.08.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on LUMN shares. Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective for the company in a report on Friday, February 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price target for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $4.59.

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.