Mutual of America Capital Management LLC Lowers Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mutual of America Capital Management LLC trimmed its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 8.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 152,931 shares of the technology company’s stock after selling 13,905 shares during the period. Mutual of America Capital Management LLC’s holdings in Lumen Technologies were worth $1,086,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Natixis Advisors LLC purchased a new position in shares of Lumen Technologies during the third quarter worth $1,071,000. Plato Investment Management Ltd purchased a new position in Lumen Technologies during the 3rd quarter valued at about $261,000. Oppenheimer & Co. Inc. grew its position in Lumen Technologies by 23.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,928 shares of the technology company’s stock valued at $255,000 after acquiring an additional 6,782 shares in the last quarter. Victory Capital Management Inc. increased its stake in Lumen Technologies by 1,081.0% during the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock worth $16,819,000 after purchasing an additional 2,168,325 shares during the period. Finally, Prime Capital Investment Advisors LLC lifted its position in shares of Lumen Technologies by 18.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 24,308 shares of the technology company’s stock worth $173,000 after purchasing an additional 3,756 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. The trade was a 2.67 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.68% of the stock is currently owned by insiders.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $7.77 on Tuesday. The stock’s 50-day simple moving average is $7.18 and its 200-day simple moving average is $4.32. 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 firm has a market capitalization of $7.89 billion, a PE ratio of -3.58 and a beta of 1.21. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, equities research analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. UBS Group upped their price target on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Bank of America lifted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lowered shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $1.75 to $4.00 in a research note on Friday, August 16th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.02.

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.