Brookstone Capital Management Has $61,000 Stock Holdings in Lumen Technologies, Inc. $LUMN

Brookstone Capital Management cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 29.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,037 shares of the technology company’s stock after selling 5,943 shares during the period. Brookstone Capital Management’s holdings in Lumen Technologies were worth $61,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after buying an additional 3,391 shares during the period. Conning Inc. acquired a new stake in Lumen Technologies during the 1st quarter worth approximately $39,000. OneDigital Investment Advisors LLC acquired a new stake in Lumen Technologies during the 1st quarter worth approximately $41,000. Meeder Advisory Services Inc. acquired a new stake in Lumen Technologies during the 1st quarter worth approximately $41,000. Finally, Smartleaf Asset Management LLC boosted its position in Lumen Technologies by 60.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after buying an additional 4,102 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, Raymond James Financial boosted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.39.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $11.01 on Thursday. The company has a fifty day moving average of $6.26 and a 200-day moving average of $4.84. The firm has a market capitalization of $11.30 billion, a P/E ratio of -9.33 and a beta of 1.45. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a twelve month low of $3.01 and a twelve month high of $11.32.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. The company had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. As a group, sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury purchased 40,000 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was acquired at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the purchase, the chief financial officer owned 535,000 shares of the company’s stock, valued at $2,375,400. This trade represents a 8.08% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kathleen E. Johnson purchased 135,870 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were acquired at an average price of $3.69 per share, with a total value of $501,360.30. Following the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at $35,486,534.43. This represents a 1.43% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 217,870 shares of company stock valued at $859,140 in the last quarter. 2.30% of the stock is currently owned by company insiders.

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.