Strategic Financial Concepts LLC Grows Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Strategic Financial Concepts LLC boosted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 430.7% during the 4th quarter, Holdings Channel reports. The firm owned 179,335 shares of the technology company’s stock after buying an additional 145,542 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Lumen Technologies were worth $952,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LUMN. Geode Capital Management LLC raised its position in shares of Lumen Technologies by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after buying an additional 383,693 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Lumen Technologies in the 4th quarter worth about $45,089,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Lumen Technologies by 9.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock worth $23,184,000 after acquiring an additional 294,679 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Lumen Technologies by 1,081.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock worth $16,819,000 after purchasing an additional 2,168,325 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Lumen Technologies in the 3rd quarter worth approximately $10,062,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Down 3.5 %

LUMN stock opened at $4.81 on Wednesday. The firm’s fifty day moving average is $5.63 and its 200 day moving average is $6.12. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The firm has a market cap of $4.88 billion, a PE ratio of -96.08 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, research analysts forecast that Lumen Technologies, Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LUMN. Citigroup upped their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday. TD Cowen cut their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Lumen Technologies presently has an average rating of “Hold” and an average price target of $4.66.

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.