Hussman Strategic Advisors Inc. Purchases Shares of 147,000 Lumen Technologies, Inc. (NYSE:LUMN)

Hussman Strategic Advisors Inc. purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 147,000 shares of the technology company’s stock, valued at approximately $781,000.

Several other large investors have also added to or reduced their stakes in LUMN. Stephens Inc. AR lifted its holdings in shares of Lumen Technologies by 7.7% in the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock valued at $192,000 after buying an additional 1,935 shares during the period. Concord Wealth Partners lifted its holdings in shares of Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after buying an additional 1,992 shares during the period. US Bancorp DE lifted its holdings in shares of Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after buying an additional 2,350 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Lumen Technologies by 23.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock valued at $95,000 after buying an additional 2,554 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in shares of Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after buying an additional 2,657 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

LUMN has been the subject of several analyst reports. Citigroup boosted their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. TD Cowen decreased their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, 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 report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.66.

Lumen Technologies Stock Performance

NYSE LUMN opened at $4.70 on Friday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -93.88 and a beta of 1.28. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock has a 50-day moving average of $5.38 and a 200 day moving average of $6.17.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

About Lumen Technologies

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.