Cambridge Investment Research Advisors Inc. Raises Position in Lumen Technologies, Inc. (NYSE:LUMN)

Cambridge Investment Research Advisors Inc. lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 88.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,475 shares of the technology company’s stock after purchasing an additional 39,619 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Lumen Technologies were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LUMN. Lazard Asset Management LLC increased its stake in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after purchasing an additional 7,307 shares during the period. Ritholtz Wealth Management acquired a new position in Lumen Technologies in the first quarter valued at $43,000. Quantinno Capital Management LP acquired a new position in shares of Lumen Technologies during the fourth quarter worth about $54,000. Seeds Investor LLC acquired a new position in shares of Lumen Technologies during the fourth quarter worth about $57,000. Finally, Marshall Wace LLP acquired a new position in shares of Lumen Technologies during the fourth quarter worth about $61,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Down 0.4%

Lumen Technologies stock opened at $4.49 on Friday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of -14.48 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98. The company’s 50-day moving average price is $4.18 and its two-hundred day moving average price is $4.46. Lumen Technologies, Inc. has a 52 week low of $1.15 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN) last released 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 firm had revenue of $3.18 billion for 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%. Lumen Technologies’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. On average, analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

LUMN has been the topic of a number of research analyst reports. BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a report on Wednesday, June 25th. Raymond James Financial raised shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price objective on the stock in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $4.58.

Lumen Technologies Profile

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.