Nisa Investment Advisors LLC Sells 63,092 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Nisa Investment Advisors LLC lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 70.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,242 shares of the technology company’s stock after selling 63,092 shares during the period. Nisa Investment Advisors LLC’s holdings in Lumen Technologies were worth $103,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Stratos Wealth Advisors LLC purchased a new position in Lumen Technologies in the 1st quarter worth $44,000. OneDigital Investment Advisors LLC purchased a new position in shares of Lumen Technologies in the first quarter worth about $41,000. Conning Inc. bought a new stake in shares of Lumen Technologies in the 1st quarter valued at about $39,000. Principal Financial Group Inc. boosted its holdings in Lumen Technologies by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 5,053,232 shares of the technology company’s stock valued at $19,809,000 after acquiring an additional 131,851 shares during the period. Finally, Straight Path Wealth Management increased its stake in Lumen Technologies by 100.0% in the 1st quarter. Straight Path Wealth Management now owns 40,000 shares of the technology company’s stock worth $157,000 after purchasing an additional 20,000 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Trading Down 0.7%

Shares of LUMN opened at $4.36 on Friday. Lumen Technologies, Inc. has a 1-year low of $1.33 and a 1-year high of $10.33. 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 firm’s 50-day moving average price is $4.20 and its 200-day moving average price is $4.42. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -14.06 and a beta of 1.39.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LUMN. Raymond James Financial upgraded shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 target price on the stock in a report on Monday, May 5th. BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Lumen Technologies currently has an average rating of “Hold” and a consensus price target 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.