Rhumbline Advisers Sells 149,215 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Rhumbline Advisers lessened its position in Lumen Technologies, Inc. (NYSE:LUMN) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,285,058 shares of the technology company’s stock after selling 149,215 shares during the period. Rhumbline Advisers’ holdings in Lumen Technologies were worth $17,444,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its position in shares of Lumen Technologies by 49.6% during the third quarter. CWM LLC now owns 15,692 shares of the technology company’s stock valued at $111,000 after buying an additional 5,202 shares during the last quarter. Creative Planning lifted its stake in Lumen Technologies by 8.2% during the 3rd quarter. Creative Planning now owns 323,628 shares of the technology company’s stock valued at $2,298,000 after acquiring an additional 24,565 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lumen Technologies during the 3rd quarter valued at about $46,000. Greenleaf Trust bought a new stake in shares of Lumen Technologies in the third quarter worth approximately $99,000. Finally, Ballentine Partners LLC raised its holdings in shares of Lumen Technologies by 114.8% during the third quarter. Ballentine Partners LLC now owns 26,206 shares of the technology company’s stock valued at $186,000 after purchasing an additional 14,005 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

LUMN has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. TD Cowen dropped their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup raised their target price on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and an average target price of $4.78.

Lumen Technologies Price Performance

NYSE LUMN opened at $4.68 on Friday. The business’s fifty day moving average is $5.34 and its 200 day moving average is $6.18. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The company has a market capitalization of $4.74 billion, a PE ratio of -93.48 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 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.