Commonwealth Equity Services LLC Has $576,000 Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Commonwealth Equity Services LLC decreased its position in Lumen Technologies, Inc. (NYSE:LUMN) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 523,773 shares of the technology company’s stock after selling 8,019 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of Lumen Technologies worth $576,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sawgrass Asset Management LLC raised its position in Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after buying an additional 9,263 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Lumen Technologies in the fourth quarter valued at approximately $27,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the second quarter worth $33,000. Fidelis Capital Partners LLC boosted its holdings in Lumen Technologies by 94.6% during the first 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 last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Lumen Technologies in the first quarter valued at $45,000. 66.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director James Fowler bought 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on LUMN shares. The Goldman Sachs Group raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $1.00 to $4.00 in a research report on Wednesday, August 7th. TD Cowen increased their price target on Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Moffett Nathanson raised their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and an average target price of $4.02.

Lumen Technologies Stock Down 0.7 %

LUMN opened at $6.66 on Friday. The stock’s fifty day simple moving average is $4.41 and its 200 day simple moving average is $2.40. Lumen Technologies, Inc. has a 1-year low of $0.78 and a 1-year high of $7.83. The stock has a market cap of $6.76 billion, a PE ratio of -0.61 and a beta of 1.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.17 earnings per share for the current 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.