SG Americas Securities LLC Purchases 868,066 Shares of Lumen Technologies, Inc. $LUMN

SG Americas Securities LLC lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 249.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,216,669 shares of the technology company’s stock after purchasing an additional 868,066 shares during the quarter. SG Americas Securities LLC owned 0.12% of Lumen Technologies worth $8,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LUMN. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Lumen Technologies by 58.3% during 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 purchasing an additional 1,755,368 shares in the last quarter. Private Advisory Group LLC bought a new stake in Lumen Technologies during the 4th quarter worth approximately $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Lumen Technologies by 210.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock worth $4,372,000 after buying an additional 381,391 shares during the period. CapWealth Advisors LLC lifted its stake in Lumen Technologies by 3.2% in the fourth quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock valued at $52,057,000 after buying an additional 204,970 shares in the last quarter. Finally, JT Stratford LLC acquired a new position in shares of Lumen Technologies in the third quarter valued at approximately $2,061,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Down 2.9%

Lumen Technologies stock opened at $8.08 on Friday. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95. The company has a fifty day simple moving average of $9.06 and a 200 day simple moving average of $8.14. The company has a market cap of $8.33 billion, a P/E ratio of -4.64 and a beta of 1.70.

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

Analysts Set New Price Targets

A number of brokerages recently commented on LUMN. JPMorgan Chase & Co. raised their price objective on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. 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 note on Wednesday, May 6th. Zacks Research cut Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company increased their price objective on Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.