Cerity Partners LLC Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Cerity Partners LLC acquired a new position in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,432 shares of the technology company’s stock, valued at approximately $201,000.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Lumen Technologies during the second quarter valued at approximately $25,000. Tcwp LLC bought a new stake in shares of Lumen Technologies during the first quarter valued at approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of Lumen Technologies during the first quarter valued at approximately $27,000. Parkside Financial Bank & Trust raised its stake in shares of Lumen Technologies by 184.2% during the second quarter. Parkside Financial Bank & Trust now owns 2,865 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Sittner & Nelson LLC bought a new stake in shares of Lumen Technologies during the first quarter valued at approximately $39,000. Institutional investors own 79.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LUMN. Citigroup decreased their price target on shares of Lumen Technologies from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, October 13th. Wells Fargo & Company downgraded shares of Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 price target for the company. in a research note on Wednesday, October 5th. JPMorgan Chase & Co. decreased their price target on shares of Lumen Technologies from $10.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, November 3rd. TheStreet lowered shares of Lumen Technologies from a “b” rating to a “c” rating in a report on Monday, August 15th. Finally, Moffett Nathanson cut their price objective on shares of Lumen Technologies to $6.00 in a report on Thursday, September 29th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.14.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $5.83 on Wednesday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 2.92 and a beta of 1.06. The company’s 50 day moving average is $7.05 and its 200 day moving average is $9.58. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.73. Lumen Technologies, Inc. has a 52-week low of $5.68 and a 52-week high of $14.00.

Insiders Place Their Bets

In other news, Director Martha Helena Bejar purchased 12,500 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were acquired at an average cost of $6.36 per share, with a total value of $79,500.00. Following the completion of the acquisition, the director now owns 101,430 shares of the company’s stock, valued at $645,094.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director T Michael Glenn purchased 20,000 shares of the business’s stock in a transaction on Friday, November 4th. The shares were acquired at an average cost of $5.92 per share, with a total value of $118,400.00. Following the completion of the acquisition, the director now owns 136,414 shares of the company’s stock, valued at $807,570.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martha Helena Bejar purchased 12,500 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was purchased at an average cost of $6.36 per share, for a total transaction of $79,500.00. Following the completion of the acquisition, the director now directly owns 101,430 shares of the company’s stock, valued at approximately $645,094.80. The disclosure for this purchase can be found here. Corporate insiders own 0.76% of the company’s stock.

Lumen Technologies Profile

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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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