Jupiter Asset Management Ltd. Cuts Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Jupiter Asset Management Ltd. decreased its holdings in Lumen Technologies, Inc. (NYSE:LUMNFree Report) by 88.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,845 shares of the technology company’s stock after selling 559,208 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Lumen Technologies were worth $105,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Lumen Technologies by 43.7% in the first quarter. BlackRock Inc. now owns 111,878,156 shares of the technology company’s stock worth $296,477,000 after acquiring an additional 34,020,726 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Lumen Technologies by 98.5% in the 1st quarter. Renaissance Technologies LLC now owns 24,202,603 shares of the technology company’s stock valued at $64,137,000 after purchasing an additional 12,008,200 shares in the last quarter. AQR Capital Management LLC boosted its stake in Lumen Technologies by 32,449.8% during the 4th quarter. AQR Capital Management LLC now owns 11,525,887 shares of the technology company’s stock worth $60,165,000 after purchasing an additional 11,490,477 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Lumen Technologies during the first quarter worth $25,611,000. Finally, First Trust Advisors LP raised its position in shares of Lumen Technologies by 49.4% in the first quarter. First Trust Advisors LP now owns 26,623,778 shares of the technology company’s stock valued at $70,553,000 after buying an additional 8,806,410 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LUMN has been the subject of several research reports. UBS Group dropped their price objective on shares of Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. The Goldman Sachs Group reduced their price objective on Lumen Technologies from $3.00 to $1.50 and set a “neutral” rating on the stock in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1.81.

Read Our Latest Research Report on LUMN

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $1.52 on Monday. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.19 and a current ratio of 1.35. The company has a 50 day simple moving average of $1.56 and a 200-day simple moving average of $1.49. Lumen Technologies, Inc. has a 1 year low of $0.78 and a 1 year high of $4.08.

Lumen Technologies (NYSE:LUMNGet Free Report) last posted its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.11. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.3 EPS for the current year.

Lumen Technologies Company Profile

(Free Report)

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.

See Also

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

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