Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,850 shares of the technology company’s stock after buying an additional 2,925 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Lumen Technologies were worth $375,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC boosted its holdings in shares of Lumen Technologies by 129.8% in the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock worth $8,640,000 after buying an additional 4,436,710 shares during the period. Front Street Capital Management Inc. boosted its stake in Lumen Technologies by 30.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock worth $12,827,000 after purchasing an additional 2,697,423 shares during the period. Vanguard Group Inc. grew its position in Lumen Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock worth $187,673,000 after purchasing an additional 1,975,400 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Lumen Technologies during the 3rd quarter valued at $10,062,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Lumen Technologies by 52.5% in the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock valued at $3,712,000 after purchasing an additional 1,246,289 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LUMN. UBS Group upped their price target on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Bank of America increased their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Moffett Nathanson lifted their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, TD Cowen upped their price target on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given 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 $4.09.

Insider Activity at Lumen Technologies

In other news, Director James Fowler acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.68% of the company’s stock.

Lumen Technologies Stock Performance

LUMN traded up $0.61 during midday trading on Friday, reaching $7.00. The company’s stock had a trading volume of 20,335,722 shares, compared to its average volume of 19,747,662. Lumen Technologies, Inc. has a twelve month low of $0.78 and a twelve month high of $7.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. The stock has a market cap of $7.12 billion, a P/E ratio of -3.33 and a beta of 1.19. The company has a fifty day simple moving average of $6.24 and a 200 day simple moving average of $3.48.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the company earned $0.10 earnings per share. Lumen Technologies’s revenue for the quarter was down 10.7% on a year-over-year basis. Research analysts expect that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.