12,271 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,271 shares of the technology company’s stock, valued at approximately $87,000.

Several other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Lumen Technologies in the first quarter valued at approximately $45,000. ProShare Advisors LLC increased its stake in Lumen Technologies by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 226,243 shares of the technology company’s stock valued at $353,000 after buying an additional 17,243 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Lumen Technologies by 247.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock worth $1,784,000 after buying an additional 814,474 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Lumen Technologies by 22.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock worth $3,198,000 after buying an additional 401,399 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Lumen Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after acquiring an additional 1,975,400 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of Lumen Technologies stock in a transaction that occurred on 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 purchase, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This represents a 2.67 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.68% of the company’s stock.

Lumen Technologies Stock Down 4.7 %

LUMN opened at $8.14 on Tuesday. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a fifty day moving average of $6.98 and a 200-day moving average of $4.09. 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 market capitalization of $8.26 billion, a P/E ratio of -3.75 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the company earned ($0.09) EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, equities analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

LUMN has been the subject of several recent research reports. UBS Group increased their price target on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $1.75 to $4.00 in a research note on Friday, August 16th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Bank of America upped their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. Finally, Moffett Nathanson raised their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.02.

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.