66,562 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Virtu Financial LLC

Virtu Financial LLC bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 66,562 shares of the technology company’s stock, valued at approximately $473,000.

Several other institutional investors and hedge funds have also made changes to their positions in LUMN. Stephens Inc. AR grew its stake in Lumen Technologies by 7.7% in the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,935 shares during the last quarter. Concord Wealth Partners grew its holdings in shares of Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares during the period. US Bancorp DE grew its holdings in shares of Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,350 shares during the period. Xponance Inc. boosted its holdings in Lumen Technologies by 4.0% during the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after acquiring an additional 2,487 shares during the period. Finally, Arkadios Wealth Advisors grew its stake in shares of Lumen Technologies by 23.6% in the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock worth $95,000 after acquiring an additional 2,554 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LUMN. The Goldman Sachs Group raised their price objective 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 boosted their target price on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Finally, TD Cowen cut their price objective on shares of 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 five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average target price of $4.71.

Lumen Technologies Trading Up 1.7 %

Shares of LUMN stock opened at $6.51 on Monday. The firm has a market cap of $6.61 billion, a P/E ratio of -3.00 and a beta of 1.21. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50-day simple moving average is $7.17 and its 200-day simple moving average is $4.86.

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 the consensus estimate 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 firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same period last year, the business earned ($0.09) EPS. The firm’s revenue was down 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current 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.