SG Americas Securities LLC Acquires 55,002 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

SG Americas Securities LLC increased its holdings in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 242.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,722 shares of the technology company’s stock after purchasing an additional 55,002 shares during the quarter. SG Americas Securities LLC’s holdings in Lumen Technologies were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in Lumen Technologies by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,727 shares of the technology company’s stock worth $1,203,000 after buying an additional 7,501 shares during the period. D.A. Davidson & CO. lifted its holdings in Lumen Technologies by 11.2% in the first quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after buying an additional 1,837 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Lumen Technologies in the first quarter worth about $1,037,000. MetLife Investment Management LLC lifted its holdings in Lumen Technologies by 24.1% in the first quarter. MetLife Investment Management LLC now owns 252,689 shares of the technology company’s stock worth $2,848,000 after buying an additional 49,091 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Lumen Technologies by 2.9% in the first quarter. Rhumbline Advisers now owns 1,567,942 shares of the technology company’s stock worth $17,671,000 after buying an additional 44,169 shares during the period. 76.03% of the stock is owned by institutional investors.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $5.15 on Tuesday. Lumen Technologies, Inc. has a twelve month low of $4.96 and a twelve month high of $12.93. The firm has a market cap of $5.33 billion, a P/E ratio of 2.58 and a beta of 0.99. The company has a 50 day moving average of $5.51 and a 200 day moving average of $7.77. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.73.

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

Insider Buying and Selling

In other news, Director Martha Helena Bejar acquired 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was bought at an average cost of $6.36 per share, for a total transaction of $79,500.00. Following the acquisition, the director now directly owns 101,430 shares in the company, valued at $645,094.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Steven T. Clontz bought 5,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The stock was acquired 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 approximately $1,815,754.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martha Helena Bejar bought 12,500 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was bought at an average cost of $6.36 per share, with a total value 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. Insiders bought a total of 37,500 shares of company stock worth $224,600 in the last three months. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley lowered their price objective 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. UBS Group lowered 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. Royal Bank of Canada lowered their target price on shares of Lumen Technologies from $11.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, October 20th. JPMorgan Chase & Co. lowered their target price 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. Finally, Citigroup lowered their target price 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. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

About Lumen Technologies

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Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.

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

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