Stratos Wealth Partners LTD. Purchases 3,582 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Stratos Wealth Partners LTD. lifted its position in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 67,247 shares of the technology company’s stock after acquiring an additional 3,582 shares during the period. Stratos Wealth Partners LTD.’s holdings in Lumen Technologies were worth $490,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Lumen Technologies by 8.3% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock valued at $147,000 after buying an additional 995 shares in the last quarter. Hartford Investment Management Co. lifted its holdings in Lumen Technologies by 0.5% during the 2nd quarter. Hartford Investment Management Co. now owns 194,432 shares of the technology company’s stock valued at $2,121,000 after buying an additional 1,045 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in Lumen Technologies by 10.1% during the 2nd quarter. Lake Street Advisors Group LLC now owns 11,813 shares of the technology company’s stock valued at $129,000 after buying an additional 1,082 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Lumen Technologies by 3.9% during the 2nd quarter. Perigon Wealth Management LLC now owns 29,417 shares of the technology company’s stock valued at $321,000 after buying an additional 1,094 shares in the last quarter. Finally, Wealthsource Partners LLC lifted its holdings in Lumen Technologies by 3.9% during the 2nd quarter. Wealthsource Partners LLC now owns 29,638 shares of the technology company’s stock valued at $323,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 76.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LUMN. UBS Group decreased their price objective 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. JPMorgan Chase & Co. cut their target price on shares of Lumen Technologies from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, November 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $6.00 target price on shares of Lumen Technologies in a research report on Tuesday, December 6th. Royal Bank of Canada cut their target price on shares of Lumen Technologies from $11.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 20th. Finally, Morgan Stanley cut their target price on shares of Lumen Technologies from $9.50 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, October 24th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Lumen Technologies Trading Up 0.4 %

NYSE LUMN opened at $5.46 on Friday. 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 firm has a market cap of $5.65 billion, a PE ratio of 2.73 and a beta of 0.99. The company has a 50 day moving average price of $5.76 and a 200 day moving average price of $8.27. Lumen Technologies, Inc. has a 52 week low of $4.99 and a 52 week high of $13.93.

Lumen Technologies (NYSE:LUMNGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.22). The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.41 billion. Lumen Technologies had a return on equity of 13.58% and a net margin of 10.95%. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven T. Clontz bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were bought at an average price of $5.34 per share, with a total value of $26,700.00. Following the transaction, the director now owns 340,029 shares in the company, valued at $1,815,754.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Steven T. Clontz bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were bought at an average price of $5.34 per share, with a total value of $26,700.00. Following the transaction, the director now owns 340,029 shares in the company, valued at $1,815,754.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martha Helena Bejar bought 12,500 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were bought at an average cost of $6.36 per share, for a total transaction of $79,500.00. Following the transaction, 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. In the last quarter, insiders have purchased 37,500 shares of company stock valued at $224,600. Insiders own 0.76% of the company’s stock.

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.

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

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