Panagora Asset Management Inc. Cuts Stock Position in Lumen Technologies, Inc. $LUMN

Panagora Asset Management Inc. decreased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 51.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 363,260 shares of the technology company’s stock after selling 391,321 shares during the quarter. Panagora Asset Management Inc.’s holdings in Lumen Technologies were worth $1,591,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LUMN. Farther Finance Advisors LLC increased its holdings in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after purchasing an additional 3,391 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Lumen Technologies by 3,527.9% in 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 buying an additional 6,456 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Lumen Technologies by 60.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after acquiring an additional 4,102 shares during the last quarter. Firestone Capital Management acquired a new stake in shares of Lumen Technologies in the 2nd quarter worth $44,000. Finally, FreeGulliver LLC purchased a new position in shares of Lumen Technologies during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LUMN shares. Royal Bank Of Canada raised their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Citigroup lowered shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research report on Friday, October 31st. The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.72.

Lumen Technologies Stock Down 8.0%

NYSE:LUMN opened at $8.80 on Friday. Lumen Technologies, Inc. has a 52 week low of $3.01 and a 52 week high of $11.95. The stock’s fifty day moving average is $8.16 and its two-hundred day moving average is $5.78. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of -5.33 and a beta of 1.42. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The business had revenue of $4.05 billion during the quarter. Research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current 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.