Lumen Technologies, Inc. (NYSE:LUMN) Stake Increased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,334 shares of the technology company’s stock after buying an additional 16,527 shares during the period. Nisa Investment Advisors LLC’s holdings in Lumen Technologies were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Lumen Technologies by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after buying an additional 383,693 shares during the period. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies during the fourth quarter valued at $45,089,000. Millennium Management LLC grew its stake in Lumen Technologies by 129.8% in the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after purchasing an additional 4,436,710 shares in the last quarter. AQR Capital Management LLC increased its position in Lumen Technologies by 52.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock worth $3,712,000 after purchasing an additional 1,246,289 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lumen Technologies by 9.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock worth $23,184,000 after purchasing an additional 294,679 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

LUMN has been the subject of several analyst reports. TD Cowen reduced their price objective 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, November 6th. Citigroup boosted their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Finally, The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.66.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $5.09 on Wednesday. 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 stock’s fifty day simple moving average is $6.13 and its 200 day simple moving average is $5.87. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of -2.34 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last announced its 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). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal 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.