Baader Bank Aktiengesellschaft Cuts Position in Lumen Technologies, Inc. (NYSE:LUMN)

Baader Bank Aktiengesellschaft reduced its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 27.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,528 shares of the technology company’s stock after selling 97,243 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Lumen Technologies were worth $1,351,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Concord Wealth Partners grew its holdings in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Lumen Technologies in the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lumen Technologies in the 3rd quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC bought a new position in shares of Lumen Technologies during the 3rd quarter worth about $46,000. Finally, GAMMA Investing LLC increased its stake in Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock valued at $49,000 after acquiring an additional 6,504 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. The Goldman Sachs Group upped their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup upped their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, TD Cowen decreased their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and an average price target of $4.66.

Lumen Technologies Stock Performance

NYSE LUMN opened at $5.02 on Thursday. The stock has a market capitalization of $5.09 billion, a PE ratio of -2.31 and a beta of 1.28. The business has a 50 day simple moving average of $6.08 and a two-hundred day simple moving average of $5.87. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33.

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