Net Worth Advisory Group Invests $144,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Net Worth Advisory Group purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,149 shares of the technology company’s stock, valued at approximately $144,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. purchased a new stake in shares of Lumen Technologies during the fourth quarter worth about $45,089,000. Victory Capital Management Inc. increased its stake in Lumen Technologies by 1,081.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock worth $16,819,000 after buying an additional 2,168,325 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after acquiring an additional 1,710,373 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Lumen Technologies in the third quarter worth approximately $2,909,000. Finally, Geode Capital Management LLC boosted its stake in shares of Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after acquiring an additional 383,693 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

NYSE:LUMN opened at $4.88 on Wednesday. The stock’s fifty day moving average is $5.11 and its two-hundred day moving average is $6.11. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The company has a market capitalization of $4.94 billion, a P/E ratio of -97.48 and a beta of 1.28. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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%. Equities analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of research reports. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies 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.