Quantinno Capital Management LP Increases Stock Position in Lumen Technologies, Inc. $LUMN

Quantinno Capital Management LP raised its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 112.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,108 shares of the technology company’s stock after acquiring an additional 95,164 shares during the period. Quantinno Capital Management LP’s holdings in Lumen Technologies were worth $1,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LUMN. Kemnay Advisory Services Inc. purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in Lumen Technologies in the fourth quarter valued at approximately $30,000. Ascentis Independent Advisors purchased a new stake in Lumen Technologies in the first quarter valued at approximately $27,000. Los Angeles Capital Management LLC acquired a new position in Lumen Technologies during the fourth quarter worth $35,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Lumen Technologies by 3,093.3% during the fourth quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $48,000 after buying an additional 6,032 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Up 4.6%

NYSE:LUMN opened at $6.70 on Friday. Lumen Technologies, Inc. has a 52 week low of $4.27 and a 52 week high of $11.95. The company has a fifty day simple moving average of $7.06 and a two-hundred day simple moving average of $7.76. The company has a market cap of $6.91 billion, a price-to-earnings ratio of -6.56 and a beta of 1.78.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.74 billion. The firm’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, analysts expect that Lumen Technologies, Inc. will post -0.42 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kathleen E. Johnson purchased 100,000 shares of Lumen Technologies stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $6.13 per share, with a total value of $613,000.00. Following the transaction, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at approximately $613,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LUMN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Friday, July 17th. JPMorgan Chase & Co. raised their target price on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Wells Fargo & Company cut their price target on shares of Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group reduced their price target on shares of Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $7.86.

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.