Counterpoint Mutual Funds LLC Acquires Shares of 130,115 Lumen Technologies, Inc. $LUMN

Counterpoint Mutual Funds LLC bought a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 130,115 shares of the technology company’s stock, valued at approximately $904,000.

Other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its stake in Lumen Technologies by 58.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock valued at $37,050,000 after acquiring an additional 1,755,368 shares during the period. Private Advisory Group LLC bought a new position in Lumen Technologies during the fourth quarter worth about $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Lumen Technologies by 210.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock worth $4,372,000 after purchasing an additional 381,391 shares during the period. CapWealth Advisors LLC increased its stake in shares of Lumen Technologies by 3.2% in the fourth quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock worth $52,057,000 after purchasing an additional 204,970 shares in the last quarter. Finally, October Effect Ltd bought a new stake in shares of Lumen Technologies in the fourth quarter valued at approximately $1,476,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Down 0.4%

Shares of NYSE:LUMN opened at $6.41 on Friday. The company has a 50 day moving average of $8.90 and a 200 day moving average of $8.09. The stock has a market cap of $6.60 billion, a P/E ratio of -3.68 and a beta of 1.75. Lumen Technologies, Inc. has a 12 month low of $3.37 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the company earned ($0.13) EPS. Lumen Technologies’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. TD Cowen boosted their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Tuesday, April 21st. UBS Group lifted their price target on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Zacks Research lowered Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Lumen Technologies currently has an average rating of “Reduce” and an average price target of $7.91.

Lumen Technologies 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.