Kestra Advisory Services LLC Purchases 200,969 Shares of Lumen Technologies, Inc. $LUMN

Kestra Advisory Services LLC boosted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 163.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,813 shares of the technology company’s stock after purchasing an additional 200,969 shares during the period. Kestra Advisory Services LLC’s holdings in Lumen Technologies were worth $2,251,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LUMN. Kemnay Advisory Services Inc. bought a new stake in shares of Lumen Technologies during the fourth quarter worth about $25,000. Ascentis Independent Advisors bought a new position in Lumen Technologies in the 1st quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new position in Lumen Technologies in the 4th quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in Lumen Technologies during the 4th quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. grew its holdings in 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 acquiring an additional 6,032 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $6.25 on Monday. The company has a market capitalization of $6.44 billion, a PE ratio of -3.59 and a beta of 1.75. The company has a 50 day simple moving average of $8.42 and a two-hundred day simple moving average of $8.00. Lumen Technologies, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly 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 firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the business earned ($0.13) EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Research analysts predict that Lumen Technologies, Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

LUMN has been the subject of several recent research reports. TD Cowen upped their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. UBS Group boosted their price objective on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price objective on Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $7.91.

Lumen Technologies Company Profile

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.