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

Net Worth Advisory Group bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 27,149 shares of the technology company’s stock, valued at approximately $144,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised 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 valued at $165,776,000 after acquiring an additional 383,693 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter valued at about $45,089,000. Allianz Asset Management GmbH raised its position in Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after purchasing an additional 1,710,373 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Lumen Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock valued at $26,133,000 after buying an additional 128,172 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Lumen Technologies by 9.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock worth $23,184,000 after buying an additional 294,679 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on LUMN. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a report on Friday, February 21st. Finally, Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.88 on Wednesday. The business’s 50 day simple moving average is $5.11 and its 200-day simple moving average is $6.11. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -97.48 and a beta of 1.28. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 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.