Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by AE Wealth Management LLC

Posted by on Sep 29th, 2023

AE Wealth Management LLC cut its stake in Lumen Technologies, Inc. (NYSE:LUMN – Free Report) by 69.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 254,276 shares of the technology company’s stock after selling 573,686 shares during the period. AE Wealth Management LLC’s holdings in Lumen Technologies were worth $575,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Moody National Bank Trust Division boosted its position in shares of Lumen Technologies by 20.9% in the second quarter. Moody National Bank Trust Division now owns 43,086 shares of the technology company’s stock worth $97,000 after acquiring an additional 7,455 shares during the last quarter. Level Four Advisory Services LLC boosted its position in shares of Lumen Technologies by 106.4% in the first quarter. Level Four Advisory Services LLC now owns 410,746 shares of the technology company’s stock worth $1,088,000 after acquiring an additional 211,701 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Lumen Technologies by 2,178.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 861,538 shares of the technology company’s stock worth $2,283,000 after acquiring an additional 823,729 shares during the last quarter. ProShare Advisors LLC lifted its position in Lumen Technologies by 25.9% during the first quarter. ProShare Advisors LLC now owns 457,497 shares of the technology company’s stock valued at $1,212,000 after buying an additional 94,253 shares in the last quarter. Finally, Toroso Investments LLC lifted its position in Lumen Technologies by 188.1% during the first quarter. Toroso Investments LLC now owns 304,554 shares of the technology company’s stock valued at $807,000 after buying an additional 198,838 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Trading Up 2.5 %

NYSE LUMN opened at $1.43 on Friday. The company’s fifty day simple moving average is $1.62 and its 200-day simple moving average is $2.02. Lumen Technologies, Inc. has a 52 week low of $1.30 and a 52 week high of $8.06. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 8.71. The stock has a market cap of $1.44 billion, a P/E ratio of -0.13 and a beta of 1.01.

Lumen Technologies (NYSE:LUMN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Lumen Technologies had a negative net margin of 68.74% and a positive return on equity of 8.44%. The business’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities research analysts predict that Lumen Technologies, Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LUMN shares. Royal Bank of Canada reduced their price target on shares of Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating on the stock in a research report on Thursday, August 17th. The Goldman Sachs Group reduced their price target on shares of Lumen Technologies from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, August 3rd. Morgan Stanley reduced their price target on shares of Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating on the stock in a research report on Tuesday, September 5th. Finally, Raymond James raised shares of Lumen Technologies from an “underperform” rating to a “market perform” rating in a research report on Tuesday, June 6th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.51.

Get Our Latest Stock Report on LUMN

Lumen Technologies Profile

(Free Report)

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

Featured Articles

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.