Jupiter Asset Management Ltd. Increases Stake in Lumen Technologies, Inc. $LUMN

Jupiter Asset Management Ltd. lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 162.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,786,366 shares of the technology company’s stock after purchasing an additional 1,724,088 shares during the period. Jupiter Asset Management Ltd. owned about 0.27% of Lumen Technologies worth $12,204,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in LUMN. Teacher Retirement System of Texas bought a new position in shares of Lumen Technologies during the first quarter valued at about $553,000. Massachusetts Financial Services Co. MA boosted its holdings in Lumen Technologies by 94.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 587,251 shares of the technology company’s stock valued at $2,302,000 after acquiring an additional 285,110 shares during the period. Victory Capital Management Inc. grew its position in Lumen Technologies by 4.9% during the 1st quarter. Victory Capital Management Inc. now owns 2,448,046 shares of the technology company’s stock worth $9,596,000 after acquiring an additional 115,347 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Lumen Technologies by 4.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 296,069 shares of the technology company’s stock worth $1,161,000 after purchasing an additional 13,000 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Lumen Technologies by 12.6% in the first quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company’s stock valued at $34,387,000 after purchasing an additional 982,038 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Lumen Technologies

In other news, CFO Christopher Stansbury purchased 40,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $4.44 per share, with a total value of $177,600.00. Following the completion of the purchase, the chief financial officer directly owned 535,000 shares in the company, valued at approximately $2,375,400. This trade represents a 8.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Lumen Technologies Trading Down 7.6%

Shares of LUMN opened at $8.55 on Thursday. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $11.95. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The firm’s 50-day moving average price is $7.37 and its 200-day moving average price is $5.34. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of -7.24 and a beta of 1.45.

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

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.