Polianta Ltd Acquires 143,200 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Polianta Ltd increased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 109.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,600 shares of the technology company’s stock after purchasing an additional 143,200 shares during the period. Polianta Ltd’s holdings in Lumen Technologies were worth $1,072,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Lumen Technologies by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock valued at $408,000 after acquiring an additional 2,220 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Lumen Technologies by 7.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock worth $182,000 after buying an additional 2,457 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock worth $78,000 after buying an additional 2,489 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Lumen Technologies by 28.6% during the fourth quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company’s stock worth $73,000 after buying an additional 3,069 shares in the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LUMN. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a report on Friday, February 21st. Raymond James raised Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price target for the company in a research report on Monday, May 5th. Finally, Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price target for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and an average price target of $4.58.

Lumen Technologies Price Performance

NYSE:LUMN opened at $4.20 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The stock’s 50 day moving average price is $3.81 and its two-hundred day moving average price is $4.78. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -83.98 and a beta of 1.38. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies 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.