Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Balentine LLC

Balentine LLC cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 85.1% in the 3rd quarter, Holdings Channel reports. The fund owned 17,276 shares of the technology company’s stock after selling 98,554 shares during the period. Balentine LLC’s holdings in Lumen Technologies were worth $126,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Lumen Technologies during the second quarter valued at about $25,000. Private Trust Co. NA acquired a new position in shares of Lumen Technologies during the second quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its stake in shares of Lumen Technologies by 184.2% during the second quarter. Parkside Financial Bank & Trust now owns 2,865 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,857 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in Lumen Technologies in the third quarter worth approximately $32,000. Finally, Sugarloaf Wealth Management LLC grew its position in Lumen Technologies by 252.5% in the third quarter. Sugarloaf Wealth Management LLC now owns 6,013 shares of the technology company’s stock worth $44,000 after buying an additional 4,307 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumen Technologies

In related news, Director T Michael Glenn acquired 20,000 shares of the stock in a transaction dated Friday, November 4th. The stock was bought at an average price of $5.92 per share, with a total value of $118,400.00. Following the completion of the transaction, the director now directly owns 136,414 shares of the company’s stock, valued at $807,570.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Steven T. Clontz acquired 5,000 shares of the stock in a transaction dated Tuesday, November 29th. The stock was bought at an average price of $5.34 per share, with a total value of $26,700.00. Following the completion of the transaction, the director now directly owns 340,029 shares of the company’s stock, valued at $1,815,754.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director T Michael Glenn acquired 20,000 shares of the stock in a transaction dated Friday, November 4th. The shares were bought at an average cost of $5.92 per share, with a total value of $118,400.00. Following the transaction, the director now directly owns 136,414 shares of the company’s stock, valued at $807,570.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 37,500 shares of company stock valued at $224,600. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LUMN shares. Citigroup decreased their price objective on shares of Lumen Technologies from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, October 13th. Wells Fargo & Company lowered shares of Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 price objective for the company. in a research note on Wednesday, October 5th. The Goldman Sachs Group restated a “neutral” rating and set a $6.00 price objective on shares of Lumen Technologies in a report on Tuesday, December 6th. Moffett Nathanson lowered their target price on shares of Lumen Technologies to $6.00 in a research note on Thursday, September 29th. Finally, UBS Group reduced their price target on shares of Lumen Technologies from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

Lumen Technologies Stock Down 0.7 %

Shares of NYSE:LUMN opened at $5.39 on Tuesday. Lumen Technologies, Inc. has a 52 week low of $4.99 and a 52 week high of $13.93. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $5.58 billion, a PE ratio of 2.70 and a beta of 0.99. The company has a 50 day moving average price of $5.68 and a two-hundred day moving average price of $8.16.

Lumen Technologies (NYSE:LUMN – Get Rating) last issued its earnings results on Wednesday, November 2nd. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.22). Lumen Technologies had a net margin of 10.95% and a return on equity of 13.58%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.41 billion. Analysts forecast that Lumen Technologies, Inc. will post 1.18 earnings per share for the current year.

Lumen Technologies Company Profile

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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.