McAdam LLC Invests $345,000 in Lumen Technologies, Inc. (NYSE:LUMN)

McAdam LLC purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 64,966 shares of the technology company’s stock, valued at approximately $345,000.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Lumen Technologies during the fourth quarter worth $48,000. BSW Wealth Partners raised its position in Lumen Technologies by 26.9% in the fourth quarter. BSW Wealth Partners now owns 165,093 shares of the technology company’s stock valued at $877,000 after purchasing an additional 35,029 shares during the last quarter. Mariner Investment Group LLC acquired a new stake in shares of Lumen Technologies during the fourth quarter valued at about $531,000. KBC Group NV increased its stake in shares of Lumen Technologies by 1,095.5% in the fourth quarter. KBC Group NV now owns 360,932 shares of the technology company’s stock valued at $1,917,000 after buying an additional 330,742 shares during the period. Finally, First Citizens Bank & Trust Co. raised its holdings in Lumen Technologies by 18.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 27,283 shares of the technology company’s stock valued at $145,000 after buying an additional 4,325 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LUMN shares. TD Cowen decreased their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price objective (up from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Citigroup lifted their target price on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.66.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $4.93 on Monday. The business has a 50-day simple moving average of $5.96 and a 200 day simple moving average of $5.95. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -2.27 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 firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. Lumen Technologies’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. On average, research analysts anticipate that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal 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.