Strategic Financial Concepts LLC Raises Position in Lumen Technologies, Inc. (NYSE:LUMN)

Strategic Financial Concepts LLC boosted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 430.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,335 shares of the technology company’s stock after buying an additional 145,542 shares during the period. Strategic Financial Concepts LLC’s holdings in Lumen Technologies were worth $952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Point Inc. purchased a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $107,000. McAdam LLC purchased a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $345,000. R Squared Ltd purchased a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $48,000. BSW Wealth Partners lifted its holdings in shares of Lumen Technologies by 26.9% during the fourth quarter. BSW Wealth Partners now owns 165,093 shares of the technology company’s stock valued at $877,000 after purchasing an additional 35,029 shares during the last quarter. Finally, Mariner Investment Group LLC bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $531,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 3.5 %

NYSE:LUMN opened at $4.81 on Wednesday. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a 50 day simple moving average of $5.63 and a two-hundred day simple moving average of $6.12. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a market cap of $4.88 billion, a PE ratio of -96.08 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Research analysts forecast that Lumen Technologies, Inc. will post -0.79 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday. TD Cowen reduced their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Citigroup raised their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.66.

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.