Quantbot Technologies LP Cuts Position in Lumen Technologies, Inc. $LUMN

Quantbot Technologies LP lowered its position in Lumen Technologies, Inc. (NYSE:LUMN) by 29.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,345 shares of the technology company’s stock after selling 155,447 shares during the quarter. Quantbot Technologies LP’s holdings in Lumen Technologies were worth $2,242,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Lumen Technologies during the 2nd quarter worth $47,923,000. Curi Capital LLC acquired a new stake in Lumen Technologies in the second quarter valued at $14,144,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Lumen Technologies during the 3rd quarter worth about $18,439,000. AIGH Capital Management LLC acquired a new position in shares of Lumen Technologies during the 3rd quarter worth about $15,606,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Lumen Technologies in the 2nd quarter valued at about $8,151,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lumen Technologies

In related news, CEO Kathleen E. Johnson bought 78,685 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $6.35 per share, with a total value 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. This trade represents a 0.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diankha Linear sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the sale, the director owned 198,229 shares of the company’s stock, valued at $1,564,026.81. This trade represents a 18.50% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Wall Street Zen cut shares of Lumen Technologies from a “hold” rating to a “sell” rating in a report on Saturday. UBS Group upped their target price on shares of Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a research note on Wednesday, February 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.25.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $6.91 on Wednesday. The firm’s fifty day simple moving average is $7.97 and its 200-day simple moving average is $7.50. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $11.95. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of -3.97 and a beta of 1.56.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data 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 company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. Lumen Technologies’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. Analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies Profile

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.