Wealth Enhancement Advisory Services LLC Sells 155,996 Shares of Lumen Technologies, Inc. $LUMN

Wealth Enhancement Advisory Services LLC lowered its position in Lumen Technologies, Inc. (NYSE:LUMN) by 51.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,358 shares of the technology company’s stock after selling 155,996 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Lumen Technologies were worth $1,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LUMN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Lumen Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after purchasing an additional 26,305 shares in the last quarter. Empowered Funds LLC boosted its holdings in Lumen Technologies by 26.8% in the first quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after acquiring an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Lumen Technologies by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock worth $11,702,000 after acquiring an additional 300,328 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Lumen Technologies by 15.8% during the second quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company’s stock valued at $524,000 after acquiring an additional 16,332 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Lumen Technologies in the 2nd quarter valued at approximately $47,923,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Insiders Place Their Bets

In related news, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the sale, the director directly owned 198,229 shares of the company’s stock, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kathleen E. Johnson acquired 78,685 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average price of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the acquisition, the chief executive officer owned 8,562,582 shares in the company, valued at approximately $54,372,395.70. The trade was a 0.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.30% of the company’s stock.

Lumen Technologies Trading Down 0.2%

Shares of LUMN stock opened at $6.97 on Monday. Lumen Technologies, Inc. has a twelve month low of $3.01 and a twelve month high of $11.95. The stock has a 50 day moving average of $7.36 and a 200 day moving average of $7.77. The stock has a market cap of $7.18 billion, a P/E ratio of -4.01 and a beta of 1.52.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.44. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm earned $0.09 EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LUMN. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. Citigroup lowered their price target on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Raymond James Financial reaffirmed a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Finally, Zacks Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.25.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.