SG Americas Securities LLC Has $668,000 Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

SG Americas Securities LLC lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 103.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 170,464 shares of the technology company’s stock after buying an additional 86,637 shares during the quarter. SG Americas Securities LLC’s holdings in Lumen Technologies were worth $668,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LUMN. Allspring Global Investments Holdings LLC lifted its stake in shares of Lumen Technologies by 3,634.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 243,471 shares of the technology company’s stock worth $1,366,000 after buying an additional 236,951 shares during the last quarter. Allworth Financial LP raised its stake in Lumen Technologies by 115.3% in the 4th quarter. Allworth Financial LP now owns 12,910 shares of the technology company’s stock worth $74,000 after purchasing an additional 6,914 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter worth about $69,000. Principal Financial Group Inc. raised its stake in Lumen Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock worth $26,133,000 after purchasing an additional 128,172 shares in the last quarter. Finally, Truist Financial Corp raised its stake in Lumen Technologies by 68.1% in the 4th quarter. Truist Financial Corp now owns 21,577 shares of the technology company’s stock worth $115,000 after purchasing an additional 8,741 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LUMN. Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research note on Friday, February 21st. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Raymond James Financial upgraded 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 research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.58.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $3.95 on Friday. The firm has a 50 day moving average of $3.86 and a 200-day moving average of $4.65. The stock has a market capitalization of $4.06 billion, a PE ratio of -12.75 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.16. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) EPS. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

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.