HRT Financial LP Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

HRT Financial LP bought a new position in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 629,147 shares of the technology company’s stock, valued at approximately $3,284,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. increased its stake in Lumen Technologies by 8.3% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock worth $147,000 after acquiring an additional 995 shares during the last quarter. SVB Wealth LLC boosted its holdings in shares of Lumen Technologies by 7.9% in the 1st quarter. SVB Wealth LLC now owns 18,743 shares of the technology company’s stock worth $212,000 after purchasing an additional 1,370 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Lumen Technologies by 11.2% in the 1st quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after purchasing an additional 1,837 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Lumen Technologies by 0.7% in the 3rd quarter. MetLife Investment Management LLC now owns 254,358 shares of the technology company’s stock worth $1,852,000 after purchasing an additional 1,845 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its holdings in shares of Lumen Technologies by 6.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 30,634 shares of the technology company’s stock worth $223,000 after purchasing an additional 1,861 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Performance

NYSE LUMN opened at $1.88 on Friday. Lumen Technologies, Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $12.54. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.80. The stock has a 50 day simple moving average of $2.37 and a two-hundred day simple moving average of $4.04.

Lumen Technologies (NYSE:LUMN – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Lumen Technologies had a positive return on equity of 8.87% and a negative net margin of 9.89%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business posted $0.63 EPS. The company’s quarterly revenue was down 20.1% compared to the same quarter last year. Research analysts forecast that Lumen Technologies, Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LUMN shares. Morgan Stanley cut their price objective on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating for the company in a report on Monday, March 13th. Bank of America cut their price objective on Lumen Technologies from $4.00 to $2.00 in a report on Thursday, May 4th. Citigroup cut Lumen Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $6.25 to $3.50 in a report on Wednesday, February 8th. TheStreet cut Lumen Technologies from a “c” rating to a “d” rating in a report on Tuesday, February 7th. Finally, The Goldman Sachs Group dropped their target price on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.11.

Lumen Technologies Profile

(Get Rating)

Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.