Private Advisor Group LLC Sells 6,982 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Private Advisor Group LLC lessened its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 14.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,043 shares of the technology company’s stock after selling 6,982 shares during the quarter. Private Advisor Group LLC’s holdings in Lumen Technologies were worth $291,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LUMN. Commonwealth Equity Services LLC boosted its stake in Lumen Technologies by 28.7% during the first quarter. Commonwealth Equity Services LLC now owns 531,792 shares of the technology company’s stock valued at $830,000 after buying an additional 118,572 shares during the period. Fidelis Capital Partners LLC increased its holdings in Lumen Technologies by 94.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after purchasing an additional 10,764 shares during the period. Texas Permanent School Fund Corp increased its holdings in Lumen Technologies by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 880,306 shares of the technology company’s stock valued at $1,373,000 after purchasing an additional 12,993 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Lumen Technologies during the 1st quarter worth approximately $45,000. Finally, Headlands Technologies LLC purchased a new position in shares of Lumen Technologies during the 1st quarter worth approximately $239,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group increased their target price on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company cut Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Bank of America raised their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $1.25 to $3.15 in a report on Tuesday, August 6th. Finally, Moffett Nathanson raised their price objective 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 research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.02.

Lumen Technologies Stock Up 18.4 %

Shares of NYSE:LUMN opened at $9.01 on Thursday. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $9.20. The business has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $3.60. The firm has a market capitalization of $9.16 billion, a PE ratio of -4.19 and a beta of 1.21. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.20) 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 $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue was down 11.5% on a year-over-year basis. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of Lumen Technologies stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.68% of the stock is currently owned by insiders.

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.