Kovitz Investment Group Partners LLC Invests $180,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Kovitz Investment Group Partners LLC acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,416 shares of the technology company’s stock, valued at approximately $180,000.

A number of other institutional investors have also recently added to or reduced their stakes in LUMN. Concord Wealth Partners lifted 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 valued at $28,000 after buying an additional 1,992 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies during the 3rd quarter valued at about $36,000. Allspring Global Investments Holdings LLC bought a new position in Lumen Technologies in the 3rd quarter worth about $46,000. GAMMA Investing LLC grew its position in Lumen Technologies by 1,901.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after purchasing an additional 6,504 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Lumen Technologies in the third quarter valued at approximately $59,000. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company cut 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 report on Friday, August 16th. Citigroup raised their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. 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 report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.71.

Lumen Technologies Trading Up 1.8 %

Shares of LUMN stock opened at $6.52 on Friday. The stock has a 50-day simple moving average of $7.17 and a 200 day simple moving average of $4.81. The stock has a market capitalization of $6.61 billion, a P/E ratio of -3.00 and a beta of 1.21. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter last year, the business posted ($0.09) EPS. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, sell-side analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Lumen Technologies Company 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.