Cambridge Investment Research Advisors Inc. Boosts Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Cambridge Investment Research Advisors Inc. lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,582 shares of the technology company’s stock after acquiring an additional 8,940 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Lumen Technologies were worth $713,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ellevest Inc. lifted its stake in Lumen Technologies by 489.7% in the 3rd quarter. Ellevest Inc. now owns 4,830 shares of the technology company’s stock valued at $35,000 after buying an additional 4,011 shares in the last quarter. Silvant Capital Management LLC lifted its stake in Lumen Technologies by 256.5% in the 4th quarter. Silvant Capital Management LLC now owns 5,907 shares of the technology company’s stock valued at $31,000 after buying an additional 4,250 shares in the last quarter. Blume Capital Management Inc. purchased a new position in Lumen Technologies in the 4th quarter valued at about $39,000. Covestor Ltd lifted its stake in Lumen Technologies by 359.2% in the 1st quarter. Covestor Ltd now owns 7,875 shares of the technology company’s stock valued at $89,000 after buying an additional 6,160 shares in the last quarter. Finally, EWG Elevate Inc. purchased a new position in Lumen Technologies in the 4th quarter valued at about $41,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Down 7.2 %

Lumen Technologies stock opened at $2.18 on Tuesday. Lumen Technologies, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $12.54. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $2.41 and a 200 day moving average price of $4.09. The company has a market capitalization of $2.19 billion, a PE ratio of -1.32 and a beta of 1.01.

Lumen Technologies (NYSE:LUMN – Get Rating) last posted its earnings results on Tuesday, May 2nd. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Lumen Technologies had a negative net margin of 9.89% and a positive return on equity of 8.87%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was down 20.1% on a year-over-year basis. Research analysts expect that Lumen Technologies, Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LUMN shares. TheStreet lowered shares of Lumen Technologies from a “c” rating to a “d” rating in a research note on Tuesday, February 7th. The Goldman Sachs Group decreased their target price on shares of Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 8th. Bank of America decreased their target price on shares of Lumen Technologies from $4.00 to $2.00 in a research note on Thursday, May 4th. Morgan Stanley decreased their target price on shares of Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a research note on Monday, March 13th. Finally, Citigroup lowered shares of Lumen Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $6.25 to $3.50 in a research note on Wednesday, February 8th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.11.

Lumen Technologies Company Profile

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Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.