Sentinel Dome Partners LLC Invests $698,000 in Lumen Technologies, Inc. $LUMN

Sentinel Dome Partners LLC purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 89,816 shares of the technology company’s stock, valued at approximately $698,000. Lumen Technologies makes up 0.5% of Sentinel Dome Partners LLC’s investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Lumen Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after buying an additional 1,295,177 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Lumen Technologies by 58.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock worth $37,050,000 after buying an additional 1,755,368 shares in the last quarter. Private Advisory Group LLC acquired a new position in Lumen Technologies during the fourth quarter worth about $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Lumen Technologies by 210.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock valued at $4,372,000 after acquiring an additional 381,391 shares in the last quarter. Finally, CapWealth Advisors LLC grew its stake in Lumen Technologies by 3.2% during the 4th quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock valued at $52,057,000 after acquiring an additional 204,970 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LUMN. Wells Fargo & Company raised their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, TD Cowen upped their target price on Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lumen Technologies has an average rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $8.16 on Friday. Lumen Technologies, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $11.95. The company has a 50 day moving average price of $9.04 and a 200 day moving average price of $8.17. The stock has a market capitalization of $8.41 billion, a P/E ratio of -4.69 and a beta of 1.70.

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

Lumen Technologies Company 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.