Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 63.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,225 shares of the technology company’s stock after selling 48,841 shares during the period. International Assets Investment Management LLC’s holdings in Lumen Technologies were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC lifted its position in Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after purchasing an additional 9,263 shares during the period. Sanctuary Advisors LLC acquired a new position in Lumen Technologies during the second quarter valued at $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Lumen Technologies during the second quarter valued at $26,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Lumen Technologies in the second quarter worth about $33,000. Finally, Fidelis Capital Partners LLC raised its position in shares of Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after acquiring an additional 10,764 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Up 18.4 %

LUMN stock opened at $9.01 on Thursday. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $9.20. The stock has a market capitalization of $9.16 billion, a P/E ratio of -4.29 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. The firm has a 50-day simple moving average of $6.32 and a 200-day simple moving average of $3.60.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) 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 company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the prior year, the company earned ($0.09) EPS. Lumen Technologies’s revenue was down 11.5% compared to the same quarter last year. Equities analysts forecast that Lumen Technologies, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. Moffett Nathanson upped their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, TD Cowen cut their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and an average target price of $4.02.

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.