Lumen Technologies, Inc. $LUMN Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 27.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,140,027 shares of the technology company’s stock after acquiring an additional 1,957,992 shares during the quarter. Hsbc Holdings PLC’s holdings in Lumen Technologies were worth $70,973,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in Lumen Technologies during the fourth quarter worth $30,000. Fifth Third Bancorp raised its position in Lumen Technologies by 24.5% in the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,051 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Lumen Technologies during the 4th quarter worth $35,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Lumen Technologies by 3,093.3% during the 4th quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $48,000 after purchasing an additional 6,032 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 1.2%

Shares of NYSE LUMN opened at $8.10 on Tuesday. The company’s 50-day moving average price is $9.05 and its 200 day moving average price is $8.16. Lumen Technologies, Inc. has a 52 week low of $3.37 and a 52 week high of $11.95. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of -4.66 and a beta of 1.70.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the firm posted ($0.13) EPS. The company’s revenue was down 8.9% compared to the same quarter last year. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUMN. TD Cowen increased their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. JPMorgan Chase & Co. lifted their price target on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. UBS Group upped their price target on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Tuesday, April 21st. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lumen Technologies presently has an average rating of “Reduce” and an average target price of $7.91.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.