Weiss Asset Management LP Invests $1.37 Million in Lumen Technologies, Inc. (NYSE:LUMN)

Weiss Asset Management LP bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 192,279 shares of the technology company's stock, valued at approximately $1,365,000.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR lifted its holdings in shares of Lumen Technologies by 7.7% during the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company's stock worth $192,000 after acquiring an additional 1,935 shares during the last quarter. Concord Wealth Partners lifted its stake in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock worth $28,000 after purchasing an additional 1,992 shares during the last quarter. US Bancorp DE increased its position in shares of Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company's stock valued at $107,000 after purchasing an additional 2,350 shares during the last quarter. Xponance Inc. raised its holdings in shares of Lumen Technologies by 4.0% during the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company's stock valued at $71,000 after buying an additional 2,487 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in Lumen Technologies by 23.6% in the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company's stock worth $95,000 after buying an additional 2,554 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LUMN shares. Citigroup boosted their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. TD Cowen reduced their price objective on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lowered Lumen Technologies from an "equal weight" rating to an "underweight" rating and boosted their target price for the company from $1.75 to $4.00 in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.71.

Lumen Technologies Price Performance

NYSE:LUMN traded down $0.49 during mid-day trading on Monday, reaching $6.51. 12,278,113 shares of the company's stock traded hands, compared to its average volume of 19,493,414. The company has a 50 day moving average price of $7.21 and a 200-day moving average price of $4.68. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results 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). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter last year, the firm earned ($0.09) EPS. The business's revenue was down 11.5% on a year-over-year basis. As a group, research analysts anticipate 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.