Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by Allworth Financial LP

Allworth Financial LP grew its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 115.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,910 shares of the technology company’s stock after purchasing an additional 6,914 shares during the quarter. Allworth Financial LP’s holdings in Lumen Technologies were worth $74,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of LUMN. Concord Wealth Partners lifted its holdings in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Lumen Technologies during the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Lumen Technologies during the third quarter worth $36,000. Allspring Global Investments Holdings LLC bought a new position in shares of Lumen Technologies in the 3rd quarter worth about $46,000. Finally, R Squared Ltd bought a new stake in shares of Lumen Technologies during the 4th quarter valued at about $48,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LUMN. The Goldman Sachs Group raised 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. TD Cowen lowered their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. 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 report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup upped their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, Lumen Technologies has an average rating of “Hold” and an average target price of $4.78.

Lumen Technologies Stock Down 7.0 %

Lumen Technologies stock opened at $4.34 on Tuesday. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -86.70 and a beta of 1.28. The company’s 50-day moving average price is $5.30 and its two-hundred day moving average price is $6.18. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

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