Algert Global LLC Invests $112,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Algert Global LLC bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 101,700 shares of the technology company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. HighPoint Advisor Group LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter worth about $27,000. Fidelis Capital Partners LLC lifted its stake in shares of Lumen Technologies by 94.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after purchasing an additional 10,764 shares during the period. Sawgrass Asset Management LLC boosted its holdings in shares of Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after purchasing an additional 9,263 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Lumen Technologies in the second quarter valued at $26,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Lumen Technologies during the first quarter worth about $45,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LUMN. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $1.75 to $4.00 in a research note on Friday, August 16th. UBS Group lifted their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Moffett Nathanson increased their target price on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.09.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the purchase, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.68% of the company’s stock.

Lumen Technologies Stock Down 1.3 %

NYSE LUMN opened at $6.20 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. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $7.83. The business has a 50 day moving average price of $5.97 and a two-hundred day moving average price of $2.96. The stock has a market cap of $6.30 billion, a PE ratio of -2.95 and a beta of 1.19.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the business posted $0.10 earnings per share. Lumen Technologies’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

About Lumen Technologies

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.