Lumen Technologies, Inc. $LUMN Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in Lumen Technologies, Inc. (NYSE:LUMN) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,766,020 shares of the technology company’s stock after selling 374,007 shares during the period. Hsbc Holdings PLC’s holdings in Lumen Technologies were worth $60,448,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its holdings in Lumen Technologies by 2.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock valued at $479,000 after purchasing an additional 1,230 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Lumen Technologies by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 31,875 shares of the technology company’s stock worth $222,000 after buying an additional 1,393 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Lumen Technologies by 7.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 20,821 shares of the technology company’s stock valued at $162,000 after acquiring an additional 1,417 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in Lumen Technologies by 10.6% during the 4th quarter. Meeder Advisory Services Inc. now owns 15,243 shares of the technology company’s stock valued at $118,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Lumen Technologies by 22.4% during the fourth quarter. Parallel Advisors LLC now owns 8,095 shares of the technology company’s stock worth $63,000 after acquiring an additional 1,481 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $6.25 on Monday. The company has a 50-day simple moving average of $8.42 and a 200-day simple moving average of $8.00. The company has a market cap of $6.44 billion, a PE ratio of -3.59 and a beta of 1.75. Lumen Technologies, Inc. has a 12 month low of $3.37 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the firm earned ($0.13) earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. UBS Group upped their target price on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased 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. Wells Fargo & Company raised their price target on Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, TD Cowen boosted their price target on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $7.91.

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.