Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Atlas Brown Inc.

Atlas Brown Inc. cut its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 30.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,091 shares of the technology company’s stock after selling 6,528 shares during the period. Atlas Brown Inc.’s holdings in Lumen Technologies were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. purchased a new stake in Lumen Technologies during the third quarter worth $433,000. Quantbot Technologies LP purchased a new position in Lumen Technologies during the 3rd quarter valued at about $733,000. Congress Asset Management Co. acquired a new position in Lumen Technologies during the third quarter worth about $2,592,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Lumen Technologies by 9.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock valued at $23,184,000 after purchasing an additional 294,679 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Lumen Technologies by 267.4% during the 2nd quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock worth $260,000 after purchasing an additional 172,040 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on LUMN. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Citigroup increased their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. The Goldman Sachs Group raised their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, TD Cowen cut their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.66.

Lumen Technologies Price Performance

Shares of LUMN stock traded down $0.10 during mid-day trading on Friday, hitting $5.42. 5,307,528 shares of the stock traded hands, compared to its average volume of 8,055,851. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The company’s 50-day simple moving average is $6.92 and its 200-day simple moving average is $5.41. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of -2.50 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its 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). The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

About Lumen Technologies

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.