Lumen Technologies, Inc. $LUMN Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,431 shares of the technology company’s stock after selling 7,827 shares during the period. KBC Group NV’s holdings in Lumen Technologies were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in shares of Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after buying an additional 3,391 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Lumen Technologies by 3,527.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after acquiring an additional 6,456 shares in the last quarter. Meeder Advisory Services Inc. purchased a new stake in shares of Lumen Technologies during the first quarter valued at approximately $41,000. Smartleaf Asset Management LLC boosted its stake in shares of Lumen Technologies by 60.8% in the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock valued at $43,000 after purchasing an additional 4,102 shares during the period. Finally, OneAscent Investment Solutions LLC acquired a new stake in Lumen Technologies during the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Down 2.8%

NYSE:LUMN opened at $7.47 on Friday. The company has a market cap of $7.66 billion, a PE ratio of -6.33 and a beta of 1.45. The business’s 50 day moving average is $7.65 and its two-hundred day moving average is $5.50. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 52 week low of $3.01 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The business had revenue of $4.05 billion during the quarter. On average, analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on LUMN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a report on Friday, October 31st. Finally, Raymond James Financial raised their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.97.

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.