Nations Financial Group Inc. IA ADV Sells 34,200 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Nations Financial Group Inc. IA ADV cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 26.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,267 shares of the technology company’s stock after selling 34,200 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Lumen Technologies were worth $669,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LUMN. Concord Wealth Partners boosted its position in shares of 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 acquiring an additional 1,992 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Lumen Technologies during the third quarter valued at about $46,000. GAMMA Investing LLC increased its holdings in shares of Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after purchasing an additional 6,504 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Lumen Technologies in the third quarter worth about $59,000. Finally, Stableford Capital II LLC bought a new position in Lumen Technologies during the third quarter valued at approximately $71,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler acquired 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, with a total value of $47,000.00. Following the transaction, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.68% of the company’s stock.

Wall Street Analyst Weigh In

LUMN has been the topic of several recent research reports. Bank of America upped their price objective on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. TD Cowen dropped their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Finally, Moffett Nathanson upped their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Stock Down 3.7 %

Shares of NYSE LUMN opened at $8.89 on Thursday. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The firm has a 50-day simple moving average of $6.82 and a two-hundred day simple moving average of $3.92. The company has a market cap of $9.02 billion, a P/E ratio of -4.09 and a beta of 1.21. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20.

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 analysts’ consensus estimates 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 business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the previous year, the firm earned ($0.09) EPS. Lumen Technologies’s revenue was down 11.5% compared to the same quarter last year. Research analysts anticipate that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

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.