SOL Capital Management CO Sells 25,000 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

SOL Capital Management CO trimmed its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 21.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 89,305 shares of the technology company’s stock after selling 25,000 shares during the quarter. SOL Capital Management CO’s holdings in Lumen Technologies were worth $474,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of LUMN. Sanctuary Advisors LLC bought a new stake in shares of Lumen Technologies in the second quarter valued at approximately $25,000. Concord Wealth Partners raised its holdings in 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 acquiring an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Lumen Technologies during the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lumen Technologies in the third quarter worth $36,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Lumen Technologies in the third quarter valued at about $46,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of LUMN opened at $4.93 on Friday. The business has a 50-day simple moving average of $5.96 and a two-hundred day simple moving average of $5.89. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The stock has a market cap of $5.00 billion, a PE ratio of -2.27 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

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

Analyst Ratings Changes

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