Bridgefront Capital LLC Purchases New Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Bridgefront Capital LLC acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 36,846 shares of the technology company’s stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Lumen Technologies by 8.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock valued at $147,000 after acquiring an additional 995 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Lumen Technologies by 3.9% during the second quarter. Perigon Wealth Management LLC now owns 29,417 shares of the technology company’s stock worth $321,000 after purchasing an additional 1,094 shares in the last quarter. Wealthsource Partners LLC boosted its position in shares of Lumen Technologies by 3.9% during the second quarter. Wealthsource Partners LLC now owns 29,638 shares of the technology company’s stock worth $323,000 after purchasing an additional 1,100 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Lumen Technologies by 47.0% during the third quarter. Parkside Financial Bank & Trust now owns 4,212 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,347 shares in the last quarter. Finally, SVB Wealth LLC lifted its position in Lumen Technologies by 7.9% in the 1st quarter. SVB Wealth LLC now owns 18,743 shares of the technology company’s stock valued at $212,000 after acquiring an additional 1,370 shares in the last quarter. 76.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley cut their price objective on shares of Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 8th. Citigroup cut shares of Lumen Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $6.25 to $3.50 in a research report on Wednesday, February 8th. Finally, TheStreet cut shares of Lumen Technologies from a “c” rating to a “d” rating in a research report on Tuesday, February 7th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average target price of $5.50.

Lumen Technologies Stock Down 3.9 %

Shares of LUMN stock opened at $2.49 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.96. Lumen Technologies, Inc. has a 1 year low of $2.41 and a 1 year high of $12.54. The firm’s fifty day moving average price is $4.38 and its two-hundred day moving average price is $6.00. The firm has a market capitalization of $2.49 billion, a P/E ratio of -1.64 and a beta of 1.04.

Lumen Technologies (NYSE:LUMN – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.31. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.79 billion. Lumen Technologies had a negative net margin of 8.86% and a positive return on equity of 13.17%. The company’s revenue was down 21.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. On average, equities analysts predict that Lumen Technologies, Inc. will post 0.38 EPS for the current fiscal year.

Lumen Technologies Profile

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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.