Atlas Brown Inc. Has $80,000 Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Atlas Brown Inc. reduced its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 30.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,091 shares of the technology company’s stock after selling 6,528 shares during the quarter. Atlas Brown Inc.’s holdings in Lumen Technologies were worth $80,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LUMN. Sanctuary Advisors LLC acquired a new position in shares of Lumen Technologies in the second quarter worth $25,000. Concord Wealth Partners increased its position in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Lumen Technologies during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lumen Technologies in the 3rd quarter valued at approximately $36,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Lumen Technologies in the third quarter worth approximately $46,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LUMN. Citigroup raised their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. The Goldman Sachs Group upped their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. TD Cowen lowered their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 price objective (up from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.66.

Lumen Technologies Stock Performance

LUMN traded down $0.10 during trading on Friday, reaching $5.42. 5,307,528 shares of the company’s stock were exchanged, compared to its average volume of 8,055,851. The company has a market capitalization of $5.50 billion, a P/E ratio of -2.50 and a beta of 1.28. The business has a 50 day moving average price of $6.92 and a 200 day moving average price of $5.41. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter last year, the business earned ($0.09) EPS. Lumen Technologies’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, analysts predict that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.