Newbridge Financial Services Group Inc. Invests $125,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Newbridge Financial Services Group Inc. acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,545 shares of the technology company’s stock, valued at approximately $125,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Lumen Technologies during the second quarter worth approximately $25,000. Concord Wealth Partners grew its holdings in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Lumen Technologies in the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Lumen Technologies in the 3rd quarter valued at about $36,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Lumen Technologies in the third quarter worth about $46,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

LUMN stock opened at $4.98 on Monday. The stock’s fifty day moving average is $5.71 and its two-hundred day moving average is $6.08. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of -99.48 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, research analysts predict that Lumen Technologies, Inc. will post -0.79 EPS for the current year.

Analysts Set New Price Targets

LUMN has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Citigroup upped their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, TD Cowen dropped their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus price target of $4.66.

Lumen Technologies 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.