Hsbc Holdings PLC Has $20.19 Million Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Hsbc Holdings PLC trimmed its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,480,081 shares of the technology company’s stock after selling 2,244,086 shares during the quarter. Hsbc Holdings PLC owned 1.92% of Lumen Technologies worth $20,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in Lumen Technologies by 88.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 107,081 shares of the technology company’s stock worth $118,000 after purchasing an additional 50,381 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Lumen Technologies by 11.6% in the second quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company’s stock valued at $9,761,000 after buying an additional 919,300 shares during the period. Texas Permanent School Fund Corp grew its position in Lumen Technologies by 0.9% during the second quarter. Texas Permanent School Fund Corp now owns 888,228 shares of the technology company’s stock worth $977,000 after buying an additional 7,922 shares in the last quarter. Choreo LLC raised its holdings in Lumen Technologies by 68.3% in the 2nd quarter. Choreo LLC now owns 281,902 shares of the technology company’s stock valued at $313,000 after acquiring an additional 114,391 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Lumen Technologies by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock worth $311,000 after acquiring an additional 5,418 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Price Performance

NYSE:LUMN opened at $6.66 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. The firm has a market cap of $6.76 billion, a PE ratio of -0.61 and a beta of 1.18. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $7.83. The company’s 50-day moving average price is $4.52 and its two-hundred day moving average price is $2.44.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s revenue was down 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Lumen Technologies, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LUMN shares. The Goldman Sachs Group upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $1.00 to $4.00 in a research note on Wednesday, August 7th. Moffett Nathanson raised their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. TD Cowen raised their price target on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, UBS Group lifted their price objective on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and a consensus price target of $4.02.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.68% of the company’s stock.

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.