Lumen Technologies, Inc. (NYSE:LUMN) Holdings Trimmed by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. trimmed its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 318,806 shares of the technology company’s stock after selling 48,693 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Lumen Technologies were worth $2,264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LUMN. Vanguard Group Inc. grew its holdings in shares of Lumen Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company’s stock valued at $216,540,000 after acquiring an additional 927,331 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Lumen Technologies by 28.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 531,792 shares of the technology company’s stock valued at $830,000 after acquiring an additional 118,572 shares in the last quarter. Argent Advisors Inc. grew its holdings in shares of Lumen Technologies by 98.7% during the 1st quarter. Argent Advisors Inc. now owns 83,537 shares of the technology company’s stock valued at $130,000 after acquiring an additional 41,504 shares in the last quarter. Choreo LLC grew its holdings in shares of Lumen Technologies by 73.6% during the 1st quarter. Choreo LLC now owns 167,511 shares of the technology company’s stock valued at $261,000 after acquiring an additional 71,000 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after purchasing an additional 10,764 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Up 2.4 %

Lumen Technologies stock opened at $6.28 on Friday. The firm has a fifty day moving average price of $6.18 and a two-hundred day moving average price of $3.26. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of -0.57 and a beta of 1.19. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $7.83.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. As a group, analysts forecast that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LUMN shares. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Wells Fargo & Company cut shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Moffett Nathanson upped their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. TD Cowen upped their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and an average price target of $4.09.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.68% of the stock is currently owned by insiders.

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.