Hsbc Holdings PLC Grows Stock Position in Lumen Technologies, Inc. $LUMN

Hsbc Holdings PLC raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 27.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LUMN. Kemnay Advisory Services Inc. purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at $35,000. Hantz Financial Services Inc. increased its position 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 purchasing an additional 6,032 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new position in Lumen Technologies in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Price Performance

NYSE LUMN opened at $6.41 on Friday. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95. The firm has a market capitalization of $6.60 billion, a P/E ratio of -3.68 and a beta of 1.75. The business’s 50-day simple moving average is $8.90 and its 200-day simple moving average is $8.09.

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 analysts’ consensus estimates of ($0.13) by ($0.34). The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the previous year, the business posted ($0.13) earnings per share. The business’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LUMN has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock 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. Wells Fargo & Company lifted their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Zacks Research cut 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target 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.