Sanctuary Advisors LLC Sells 4,763 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Sanctuary Advisors LLC decreased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 22.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,995 shares of the technology company’s stock after selling 4,763 shares during the period. Sanctuary Advisors LLC’s holdings in Lumen Technologies were worth $126,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LUMN. ANTIPODES PARTNERS Ltd acquired a new stake in Lumen Technologies in the 2nd quarter valued at approximately $26,000. Concord Wealth Partners increased its stake in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after buying an additional 1,992 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Lumen Technologies during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Lumen Technologies during the 3rd quarter worth about $36,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Lumen Technologies in the third quarter valued at about $46,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

LUMN opened at $5.40 on Tuesday. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $5.48 billion, a PE ratio of -2.49 and a beta of 1.21. The business has a fifty day simple moving average of $7.08 and a 200 day simple moving average of $5.19. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company’s revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. Research analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price target (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. TD Cowen lowered their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Citigroup increased their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Finally, The Goldman Sachs Group upped their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.66.

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.