Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Skandinaviska Enskilda Banken AB publ

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 73.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,217 shares of the technology company’s stock after selling 424,600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Lumen Technologies were worth $795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake in shares of Lumen Technologies by 47.0% in the third quarter. Parkside Financial Bank & Trust now owns 4,212 shares of the technology company’s stock worth $30,000 after buying an additional 1,347 shares during the last quarter. Ellevest Inc. grew its position in Lumen Technologies by 489.7% during the third quarter. Ellevest Inc. now owns 4,830 shares of the technology company’s stock valued at $35,000 after buying an additional 4,011 shares during the period. Silvant Capital Management LLC grew its position in Lumen Technologies by 256.5% during the fourth quarter. Silvant Capital Management LLC now owns 5,907 shares of the technology company’s stock valued at $31,000 after buying an additional 4,250 shares during the period. Blume Capital Management Inc. acquired a new stake in Lumen Technologies during the fourth quarter valued at $39,000. Finally, Covestor Ltd grew its position in Lumen Technologies by 359.2% during the first quarter. Covestor Ltd now owns 7,875 shares of the technology company’s stock valued at $89,000 after buying an additional 6,160 shares during the period. 76.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LUMN has been the topic of several analyst reports. Bank of America dropped their price target on shares of Lumen Technologies from $4.00 to $2.00 in a research report on Thursday, May 4th. The Goldman Sachs Group cut their price objective on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, February 8th. TheStreet cut Lumen Technologies from a “c” rating to a “d” rating in a research report on Tuesday, February 7th. Citigroup cut Lumen Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $6.25 to $3.50 in a research report on Wednesday, February 8th. Finally, Morgan Stanley cut their price objective on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating for the company in a research report on Monday, March 13th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.11.

Lumen Technologies Trading Up 0.9 %

Shares of LUMN stock opened at $2.36 on Friday. The stock’s fifty day moving average is $2.47 and its two-hundred day moving average is $4.31. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $2.37 billion, a P/E ratio of -1.43 and a beta of 1.01. Lumen Technologies, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $12.54.

Lumen Technologies (NYSE:LUMN – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Lumen Technologies had a negative net margin of 9.89% and a positive return on equity of 8.87%. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. Research analysts expect that Lumen Technologies, Inc. will post 0.44 earnings per share for the current fiscal year.

Lumen Technologies Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding LUMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumen Technologies, Inc. (NYSE:LUMN – Get Rating).

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

Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with MarketBeat.com's FREE daily email newsletter.