Lumen Technologies, Inc. $LUMN Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its position in Lumen Technologies, Inc. (NYSE:LUMN) by 112.0% during the first quarter, HoldingsChannel reports. The firm owned 180,108 shares of the technology company’s stock after buying an additional 95,164 shares during the quarter. Quantinno Capital Management LP’s holdings in Lumen Technologies were worth $1,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LUMN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Lumen Technologies by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after purchasing an additional 26,305 shares during the last quarter. Empowered Funds LLC increased its holdings in Lumen Technologies by 26.8% in the first quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock valued at $1,066,000 after buying an additional 57,522 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Lumen Technologies by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock valued at $11,702,000 after buying an additional 300,328 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Lumen Technologies by 15.8% during the 2nd quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company’s stock worth $524,000 after buying an additional 16,332 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Lumen Technologies by 6.3% during the 2nd quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock worth $47,869,000 after buying an additional 652,124 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on LUMN. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. TD Cowen boosted their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. UBS Group upped their price target on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Citigroup dropped their price target on shares of Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Zacks Research cut shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lumen Technologies presently has an average rating of “Reduce” and a consensus target price of $7.86.

Insider Transactions at Lumen Technologies

In other news, CEO Kathleen E. Johnson purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $6.13 per share, for a total transaction of $613,000.00. Following the purchase, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $613,000. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Lumen Technologies Price Performance

NYSE LUMN opened at $6.70 on Friday. The company has a fifty day moving average of $7.06 and a two-hundred day moving average of $7.76. The company has a market capitalization of $6.91 billion, a PE ratio of -6.56 and a beta of 1.78. Lumen Technologies, Inc. has a 1 year low of $4.27 and a 1 year high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 4th. The technology company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts expect that Lumen Technologies, Inc. will post -0.42 earnings per share for the current year.

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.