Lazard Asset Management LLC Boosts Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Lazard Asset Management LLC grew its position in Lumen Technologies, Inc. (NYSE:LUMN) by 3,825.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,498 shares of the technology company’s stock after acquiring an additional 7,307 shares during the quarter. Lazard Asset Management LLC’s holdings in Lumen Technologies were worth $39,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LUMN. Merit Financial Group LLC acquired a new stake in Lumen Technologies during the 4th quarter worth $111,000. Ballentine Partners LLC lifted its stake in shares of Lumen Technologies by 14.8% in the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company’s stock worth $160,000 after buying an additional 3,868 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Lumen Technologies by 22.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 89,334 shares of the technology company’s stock worth $474,000 after acquiring an additional 16,527 shares during the last quarter. SG Americas Securities LLC grew its stake in Lumen Technologies by 59.1% during the 4th quarter. SG Americas Securities LLC now owns 83,827 shares of the technology company’s stock valued at $445,000 after acquiring an additional 31,145 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after acquiring an additional 2,657 shares during the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $3.73 on Tuesday. The company’s 50 day simple moving average is $3.82 and its 200-day simple moving average is $5.13. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -74.59 and a beta of 1.34.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on LUMN. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research report on Friday, February 21st. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Raymond James raised shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price objective for the company in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.58.

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.