Belpointe Asset Management LLC Acquires Shares of 9,333 Lumen Technologies, Inc. (NYSE:LUMN)

Belpointe Asset Management LLC acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,333 shares of the technology company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of Lumen Technologies by 24.1% during the first quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company’s stock worth $169,230,000 after purchasing an additional 2,919,199 shares in the last quarter. Vanguard Group Inc. increased its stake in Lumen Technologies by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company’s stock valued at $1,308,871,000 after buying an additional 2,726,090 shares during the last quarter. First Trust Advisors LP increased its stake in Lumen Technologies by 16.3% in the 3rd quarter. First Trust Advisors LP now owns 15,765,686 shares of the technology company’s stock valued at $114,774,000 after buying an additional 2,207,488 shares during the last quarter. State Street Corp increased its stake in Lumen Technologies by 2.8% in the 3rd quarter. State Street Corp now owns 61,929,635 shares of the technology company’s stock valued at $450,848,000 after buying an additional 1,711,464 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Lumen Technologies by 14.5% in the 3rd quarter. Marshall Wace LLP now owns 11,249,889 shares of the technology company’s stock valued at $81,901,000 after buying an additional 1,424,492 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $2.10 on Wednesday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -1.27 and a beta of 1.01. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day simple moving average of $2.40 and a 200 day simple moving average of $4.07. Lumen Technologies, Inc. has a 52 week low of $2.06 and a 52 week high of $12.54.

Lumen Technologies (NYSE:LUMN – Get Rating) last announced its earnings results on Tuesday, May 2nd. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.73 billion. Lumen Technologies had a positive return on equity of 8.87% and a negative net margin of 9.89%. The business’s quarterly revenue was down 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. On average, sell-side analysts predict that Lumen Technologies, Inc. will post 0.4 earnings per share for the current year.

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.