JPMorgan Chase & Co. Grows Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

JPMorgan Chase & Co. grew its stake in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 3.7% during the second quarter, Holdings Channel.com reports. The fund owned 7,309,970 shares of the technology company’s stock after acquiring an additional 260,265 shares during the period. JPMorgan Chase & Co.’s holdings in Lumen Technologies were worth $79,752,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MAI Capital Management increased its stake in Lumen Technologies by 13.2% during the 1st quarter. MAI Capital Management now owns 20,859 shares of the technology company’s stock worth $235,000 after buying an additional 2,436 shares during the period. US Bancorp DE grew its holdings in Lumen Technologies by 27.3% during the 2nd quarter. US Bancorp DE now owns 61,493 shares of the technology company’s stock worth $670,000 after acquiring an additional 13,178 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Lumen Technologies by 39.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 234,361 shares of the technology company’s stock worth $2,641,000 after acquiring an additional 66,520 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Lumen Technologies during the 2nd quarter worth approximately $112,000. Finally, Parsec Financial Management Inc. grew its holdings in Lumen Technologies by 22.2% during the 2nd quarter. Parsec Financial Management Inc. now owns 15,023 shares of the technology company’s stock worth $164,000 after acquiring an additional 2,729 shares in the last quarter. 79.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lumen Technologies news, Director T Michael Glenn acquired 20,000 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $5.92 per share, with a total value of $118,400.00. Following the purchase, the director now owns 136,414 shares in the company, valued at $807,570.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lumen Technologies news, Director T Michael Glenn acquired 20,000 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $5.92 per share, with a total value of $118,400.00. Following the purchase, the director now owns 136,414 shares in the company, valued at $807,570.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martha Helena Bejar acquired 12,500 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of $6.36 per share, for a total transaction of $79,500.00. Following the completion of the purchase, the director now owns 101,430 shares in the company, valued at approximately $645,094.80. The disclosure for this purchase can be found here. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Lumen Technologies from $9.50 to $8.00 and set an “underweight” rating for the company in a report on Monday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Lumen Technologies from $10.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, November 3rd. Citigroup lowered their price target on shares of Lumen Technologies from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 13th. UBS Group lowered their target price on shares of Lumen Technologies from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Finally, Moffett Nathanson lowered their target price on shares of Lumen Technologies to $6.00 in a report on Thursday, September 29th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus price target of $7.14.

Lumen Technologies Stock Performance

Shares of LUMN opened at $5.88 on Thursday. The company has a 50-day simple moving average of $6.99 and a 200-day simple moving average of $9.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $6.08 billion, a PE ratio of 2.94 and a beta of 1.06. Lumen Technologies, Inc. has a 52-week low of $5.68 and a 52-week high of $13.93.

About Lumen Technologies

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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

Further Reading

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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