Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 18.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,308 shares of the technology company’s stock after acquiring an additional 3,756 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Lumen Technologies were worth $173,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Stephens Inc. AR boosted its stake in Lumen Technologies by 7.7% in the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after buying an additional 1,935 shares during the last quarter. Concord Wealth Partners boosted its stake in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares during the last quarter. US Bancorp DE boosted its stake in Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after buying an additional 2,350 shares during the last quarter. Xponance Inc. boosted its stake in Lumen Technologies by 4.0% in the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after buying an additional 2,487 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in Lumen Technologies by 23.6% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen decreased their price target 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. The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.02.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN opened at $8.54 on Monday. The company has a market cap of $8.67 billion, a P/E ratio of -3.94 and a beta of 1.21. 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, Inc. has a one year low of $0.97 and a one year high of $10.33. The business’s 50-day simple moving average is $6.93 and its 200 day simple moving average is $4.04.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Lumen Technologies’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the transaction, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.68% of the stock is owned by company insiders.

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.