Creative Planning Purchases 28,735 Shares of Lumen Technologies, Inc. $LUMN

Creative Planning raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 13.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,872 shares of the technology company’s stock after acquiring an additional 28,735 shares during the quarter. Creative Planning’s holdings in Lumen Technologies were worth $1,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Lumen Technologies by 8.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 263,392 shares of the technology company’s stock worth $1,154,000 after purchasing an additional 20,541 shares in the last quarter. Credit Capital Investments LLC lifted its holdings in shares of Lumen Technologies by 150.0% in the second quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock worth $657,000 after buying an additional 90,000 shares in the last quarter. Candriam S.C.A. bought a new position in shares of Lumen Technologies during the second quarter worth $48,000. PNC Financial Services Group Inc. grew its stake in Lumen Technologies by 34.7% during the second quarter. PNC Financial Services Group Inc. now owns 53,226 shares of the technology company’s stock valued at $233,000 after acquiring an additional 13,702 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in shares of Lumen Technologies by 162.3% during the second quarter. Jupiter Asset Management Ltd. now owns 2,786,366 shares of the technology company’s stock valued at $12,204,000 after purchasing an additional 1,724,088 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

LUMN opened at $8.13 on Friday. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $11.95. The stock has a market cap of $8.33 billion, a P/E ratio of -6.89 and a beta of 1.45. The business has a fifty day moving average of $7.91 and a 200 day moving average of $5.66. 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 (NYSE:LUMN) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The firm had revenue of $4.05 billion for the quarter. As a group, sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Friday, October 31st. Royal Bank Of Canada raised their target price on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.72.

Lumen Technologies Company 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.