Lumen Technologies, Inc. (NYSE:LUMN) Stake Raised by Atria Investments Inc

Atria Investments Inc grew its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 47.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,480 shares of the technology company’s stock after purchasing an additional 42,227 shares during the period. Atria Investments Inc’s holdings in Lumen Technologies were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new position in shares of Lumen Technologies in the first quarter valued at $45,000. ProShare Advisors LLC raised its position in shares of Lumen Technologies by 8.3% during the first quarter. ProShare Advisors LLC now owns 226,243 shares of the technology company’s stock worth $353,000 after purchasing an additional 17,243 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Lumen Technologies by 247.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock valued at $1,784,000 after purchasing an additional 814,474 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Lumen Technologies by 22.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock valued at $3,198,000 after purchasing an additional 401,399 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Lumen Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock worth $187,673,000 after buying an additional 1,975,400 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $8.54 on Monday. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The stock’s 50-day moving average is $6.93 and its two-hundred day moving average is $4.04. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $8.67 billion, a P/E ratio of -3.94 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data 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). The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. Lumen Technologies’s revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. Analysts predict that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LUMN shares. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. TD Cowen reduced their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $1.25 to $3.15 in a report on Tuesday, August 6th. UBS Group increased their price objective on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus price target of $4.02.

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the company’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 purchase, the director now owns 384,056 shares in the company, valued at $1,805,063.20. This represents a 2.67 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.68% of the company’s stock.

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.