Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by UBS Asset Management Americas Inc.

Posted by on Mar 14th, 2023

UBS Asset Management Americas Inc. boosted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 4.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,624,500 shares of the technology company’s stock after purchasing an additional 189,784 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.45% of Lumen Technologies worth $33,666,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in Lumen Technologies by 22.5% during the 3rd quarter. CWM LLC now owns 12,858 shares of the technology company’s stock valued at $94,000 after acquiring an additional 2,358 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Lumen Technologies by 29.8% in the 2nd quarter. Cetera Investment Advisers now owns 137,372 shares of the technology company’s stock worth $1,499,000 after buying an additional 31,498 shares in the last quarter. Schechter Investment Advisors LLC raised its stake in shares of Lumen Technologies by 41.9% in the 3rd quarter. Schechter Investment Advisors LLC now owns 35,063 shares of the technology company’s stock worth $256,000 after buying an additional 10,346 shares in the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Lumen Technologies by 333.3% in the 3rd quarter. ExodusPoint Capital Management LP now owns 332,234 shares of the technology company’s stock worth $2,419,000 after buying an additional 255,563 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter worth $212,000. Institutional investors own 76.03% of the company’s stock.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $2.60 on Tuesday. Lumen Technologies, Inc. has a 1-year low of $2.43 and a 1-year high of $12.54. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -1.65 and a beta of 1.04. The stock’s fifty day simple moving average is $4.54 and its 200-day simple moving average is $6.14.

Lumen Technologies (NYSE:LUMN – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The technology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.31. Lumen Technologies had a positive return on equity of 13.17% and a negative net margin of 8.86%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. Lumen Technologies’s revenue for the quarter was down 21.6% compared to the same quarter last year. On average, sell-side analysts predict that Lumen Technologies, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LUMN has been the topic of a number of research reports. Morgan Stanley dropped their price objective on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a research note on Monday. Citigroup downgraded Lumen Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $6.25 to $3.50 in a research note on Wednesday, February 8th. The Goldman Sachs Group cut their target price on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 8th. Finally, TheStreet lowered Lumen Technologies from a “c” rating to a “d” rating in a research report on Tuesday, February 7th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and an average price target of $5.50.

Lumen Technologies Profile

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Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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