Bryce Point Capital LLC Acquires New Shares in Lumen Technologies, Inc. $LUMN

Bryce Point Capital LLC acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the second quarter, HoldingsChannel.com reports. The firm acquired 38,640 shares of the technology company’s stock, valued at approximately $169,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after acquiring an additional 3,391 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Lumen Technologies by 3,527.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after purchasing an additional 6,456 shares during the period. OneDigital Investment Advisors LLC bought a new position in Lumen Technologies in the 1st quarter worth about $41,000. Meeder Advisory Services Inc. acquired a new stake in shares of Lumen Technologies in the first quarter valued at approximately $41,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Lumen Technologies by 60.8% during the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock valued at $43,000 after buying an additional 4,102 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LUMN shares. The Goldman Sachs Group increased their price objective on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Raymond James Financial upped their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Wall Street Zen cut shares of Lumen Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus price target of $5.98.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average cost of $4.44 per share, with a total value of $177,600.00. Following the completion of the purchase, the chief financial officer directly owned 535,000 shares in the company, valued at approximately $2,375,400. This trade represents a 8.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by insiders.

Lumen Technologies Stock Down 10.5%

LUMN opened at $10.59 on Wednesday. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market capitalization of $10.86 billion, a PE ratio of -8.97 and a beta of 1.45. The stock’s fifty day moving average is $6.75 and its 200-day moving average is $5.06. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm had revenue of $4.05 billion for the quarter. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies 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.