Plato Investment Management Ltd Invests $261,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Plato Investment Management Ltd bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 36,782 shares of the technology company’s stock, valued at approximately $261,000.

A number of other hedge funds have also recently added to or reduced their stakes in LUMN. Stephens Inc. AR increased its holdings in Lumen Technologies by 7.7% in the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after acquiring an additional 1,935 shares in the last quarter. Concord Wealth Partners increased its stake 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 purchasing an additional 1,992 shares in the last quarter. US Bancorp DE raised its position in shares of Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,350 shares during the last quarter. Xponance Inc. lifted its stake in Lumen Technologies by 4.0% in the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after buying an additional 2,487 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in Lumen Technologies by 23.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock worth $95,000 after buying an additional 2,554 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LUMN has been the subject of a number of research analyst reports. Moffett Nathanson increased their target price on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the company from $1.25 to $3.15 in a report on Tuesday, August 6th. The Goldman Sachs Group upped their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. UBS Group boosted their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.02.

Insider Activity at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The trade was a 2.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.68% of the stock is owned by insiders.

Lumen Technologies Stock Performance

NYSE LUMN opened at $8.54 on Friday. The stock has a fifty day simple moving average of $6.93 and a 200-day simple moving average of $4.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The stock has a market cap of $8.67 billion, a PE ratio of -3.94 and a beta of 1.21. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share 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 company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Lumen Technologies’s revenue was down 11.5% on a year-over-year basis. Equities analysts anticipate that Lumen Technologies, Inc. will post -0.38 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.