Covestor Ltd Has $234,000 Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Covestor Ltd raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 100.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,403 shares of the technology company’s stock after purchasing an additional 51,922 shares during the quarter. Covestor Ltd’s holdings in Lumen Technologies were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LUMN. Penserra Capital Management LLC lifted its holdings in shares of Lumen Technologies by 176.8% during the second quarter. Penserra Capital Management LLC now owns 1,693,865 shares of the technology company’s stock worth $3,828,000 after buying an additional 1,081,850 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Lumen Technologies by 63.0% during the second quarter. Northern Trust Corp now owns 11,452,046 shares of the technology company’s stock worth $25,882,000 after buying an additional 4,425,560 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Lumen Technologies by 2,396.1% during the second quarter. MetLife Investment Management LLC now owns 531,149 shares of the technology company’s stock worth $1,200,000 after buying an additional 509,870 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Lumen Technologies during the second quarter worth $124,000. Finally, Profund Advisors LLC lifted its holdings in shares of Lumen Technologies by 31.2% during the second quarter. Profund Advisors LLC now owns 59,516 shares of the technology company’s stock worth $135,000 after buying an additional 14,141 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on LUMN shares. The Goldman Sachs Group dropped their price target on Lumen Technologies from $3.00 to $1.50 and set a “neutral” rating for the company in a research note on Thursday, November 9th. Morgan Stanley dropped their price target on Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating for the company in a research note on Tuesday, September 5th. Royal Bank of Canada dropped their price target on Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating for the company in a research note on Thursday, August 17th. Finally, UBS Group dropped their price target on Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.09.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler bought 70,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was acquired at an average price of $1.40 per share, with a total value of $98,000.00. Following the transaction, the director now owns 153,038 shares of the company’s stock, valued at approximately $214,253.20. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Lumen Technologies news, CFO Christopher Stansbury purchased 500,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average cost of $1.10 per share, for a total transaction of $550,000.00. Following the acquisition, the chief financial officer now owns 500,000 shares of the company’s stock, valued at $550,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Fowler purchased 70,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were acquired at an average price of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director now directly owns 153,038 shares in the company, valued at approximately $214,253.20. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,570,000 shares of company stock valued at $1,618,000. 0.76% of the stock is currently owned by company insiders.

Lumen Technologies Price Performance

Shares of LUMN stock traded down $0.03 on Tuesday, reaching $1.35. The company had a trading volume of 2,787,093 shares, compared to its average volume of 24,457,990. The stock has a market capitalization of $1.36 billion, a PE ratio of -0.12, a price-to-earnings-growth ratio of 0.18 and a beta of 1.04. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 8.90. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $6.19. The business’s 50-day moving average is $1.36 and its 200 day moving average is $1.72.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, October 31st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). Lumen Technologies had a negative net margin of 76.63% and a positive return on equity of 8.25%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. Equities research analysts forecast that Lumen Technologies, Inc. will post 0.21 EPS for the current fiscal year.

Lumen Technologies Company Profile

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.