Aviva PLC Sells 34,569 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Aviva PLC decreased its position in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 15.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 183,008 shares of the technology company’s stock after selling 34,569 shares during the quarter. Aviva PLC’s holdings in Lumen Technologies were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Ellevest Inc. increased its position in Lumen Technologies by 489.7% during the 3rd quarter. Ellevest Inc. now owns 4,830 shares of the technology company’s stock worth $35,000 after buying an additional 4,011 shares during the period. Silvant Capital Management LLC grew its holdings in shares of Lumen Technologies by 256.5% during the 4th quarter. Silvant Capital Management LLC now owns 5,907 shares of the technology company’s stock worth $31,000 after purchasing an additional 4,250 shares in the last quarter. Blume Capital Management Inc. acquired a new stake in shares of Lumen Technologies during the 4th quarter worth $39,000. Covestor Ltd grew its holdings in shares of Lumen Technologies by 359.2% during the 1st quarter. Covestor Ltd now owns 7,875 shares of the technology company’s stock worth $89,000 after purchasing an additional 6,160 shares in the last quarter. Finally, EWG Elevate Inc. acquired a new stake in shares of Lumen Technologies during the 4th quarter worth $41,000. Institutional investors own 76.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LUMN. Citigroup lowered Lumen Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $6.25 to $3.50 in a report on Wednesday, February 8th. The Goldman Sachs Group reduced their target price on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, February 8th. Morgan Stanley reduced their target price on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a report on Monday, March 13th. TheStreet lowered Lumen Technologies from a “c” rating to a “d” rating in a research note on Tuesday, February 7th. Finally, Bank of America reduced their price objective on Lumen Technologies from $4.00 to $2.00 in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.11.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $2.35 on Friday. The business’s 50-day moving average price is $2.42 and its 200-day moving average price is $4.14. Lumen Technologies, Inc. has a 12 month low of $2.06 and a 12 month high of $12.54. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -1.42 and a beta of 1.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.80.

Lumen Technologies (NYSE:LUMN – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Lumen Technologies had a negative net margin of 9.89% and a positive return on equity of 8.87%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was down 20.1% compared to the same quarter last year. Equities research analysts forecast that Lumen Technologies, Inc. will post 0.44 EPS for the current year.

Lumen Technologies Profile

(Get Rating)

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.