Legacy Investment Solutions LLC Makes New $30,000 Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Legacy Investment Solutions LLC purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,275 shares of the technology company’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sawgrass Asset Management LLC increased its position in Lumen Technologies by 68.5% during the 2nd 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 bought a new position in shares of Lumen Technologies during the second quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd purchased a new position in Lumen Technologies during the second quarter valued at approximately $26,000. Concord Wealth Partners raised its stake in Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Lumen Technologies during the 2nd quarter valued at $33,000. 66.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LUMN shares. TD Cowen reduced their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup lifted their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $1.75 to $4.00 in a research note on Friday, August 16th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.71.

Lumen Technologies Trading Up 8.2 %

NYSE:LUMN opened at $7.00 on Monday. The company has a market capitalization of $7.10 billion, a P/E ratio of -3.23 and a beta of 1.21. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The firm has a fifty day simple moving average of $7.21 and a 200-day simple moving average of $4.68.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data 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 for 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 business’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.38 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.