PEAK6 LLC Cuts Stake in Lumen Technologies, Inc. $LUMN

PEAK6 LLC lowered its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 73.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 50,111 shares of the technology company’s stock after selling 135,489 shares during the quarter. PEAK6 LLC’s holdings in Lumen Technologies were worth $389,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Corient Private Wealth LLC grew its stake in shares of Lumen Technologies by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 56,803 shares of the technology company’s stock valued at $441,000 after buying an additional 1,728 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Lumen Technologies by 27.3% in the 4th quarter. Hsbc Holdings PLC now owns 9,140,027 shares of the technology company’s stock valued at $70,973,000 after acquiring an additional 1,957,992 shares during the last quarter. Sentinel Dome Partners LLC purchased a new stake in Lumen Technologies during the 4th quarter valued at about $698,000. Kovitz Investment Group Partners LLC boosted its holdings in Lumen Technologies by 60.3% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 41,301 shares of the technology company’s stock valued at $321,000 after acquiring an additional 15,539 shares during the period. Finally, Compound Planning Inc. grew its position in Lumen Technologies by 9.4% during the 4th quarter. Compound Planning Inc. now owns 60,918 shares of the technology company’s stock worth $473,000 after acquiring an additional 5,234 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Price Performance

LUMN stock opened at $8.16 on Friday. Lumen Technologies, Inc. has a 1 year low of $3.37 and a 1 year high of $11.95. The firm has a 50-day moving average of $9.04 and a 200 day moving average of $8.17. The company has a market cap of $8.41 billion, a P/E ratio of -4.69 and a beta of 1.70.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the firm posted ($0.13) earnings per share. The business’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LUMN shares. UBS Group boosted their price objective on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. TD Cowen lifted their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lumen Technologies presently has a consensus rating of “Reduce” and a consensus price target of $7.91.

Lumen Technologies Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.