Wealth Enhancement Advisory Services LLC Boosts Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Wealth Enhancement Advisory Services LLC grew its position in Lumen Technologies, Inc. (NYSE:LUMN) by 47.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,685 shares of the technology company’s stock after acquiring an additional 23,987 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Lumen Technologies were worth $530,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LUMN. Quadrature Capital Ltd bought a new stake in Lumen Technologies in the first quarter worth about $468,000. Mackenzie Financial Corp raised its holdings in shares of Lumen Technologies by 267.4% in the second quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock worth $260,000 after buying an additional 172,040 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Lumen Technologies by 22.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock worth $3,198,000 after acquiring an additional 401,399 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Lumen Technologies in the 3rd quarter valued at $10,062,000. Finally, Algert Global LLC purchased a new stake in Lumen Technologies in the second quarter worth $112,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Up 4.3 %

Lumen Technologies stock opened at $9.59 on Friday. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $9.84. The business has a fifty day moving average of $6.56 and a two-hundred day moving average of $3.73. The firm has a market cap of $9.75 billion, a P/E ratio of -4.56 and a beta of 1.21. 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 (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter last year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, analysts forecast that Lumen Technologies, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their target price for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $1.75 to $4.00 in a report on Friday, August 16th. TD Cowen reduced their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Moffett Nathanson lifted their target price on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.02.

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.