Intech Investment Management LLC Has $3.72 Million Position in Lumen Technologies, Inc. $LUMN

Intech Investment Management LLC reduced its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 30.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 849,670 shares of the technology company’s stock after selling 372,235 shares during the period. Intech Investment Management LLC owned 0.08% of Lumen Technologies worth $3,722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Lumen Technologies in the 1st quarter worth about $26,469,000. Invesco Ltd. grew its stake in shares of Lumen Technologies by 91.6% in the 1st quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock valued at $40,285,000 after buying an additional 4,911,803 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in Lumen Technologies by 162.3% during the second quarter. Jupiter Asset Management Ltd. now owns 2,786,366 shares of the technology company’s stock valued at $12,204,000 after acquiring an additional 1,724,088 shares in the last quarter. Woodline Partners LP acquired a new stake in Lumen Technologies in the first quarter valued at approximately $5,006,000. Finally, Allianz Asset Management GmbH grew its position in Lumen Technologies by 12.6% in the first quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company’s stock worth $34,387,000 after acquiring an additional 982,038 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 5.5%

Shares of Lumen Technologies stock opened at $7.62 on Wednesday. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95. The company’s fifty day simple moving average is $7.59 and its 200-day simple moving average is $5.47. The company has a market cap of $7.82 billion, a price-to-earnings ratio of -6.46 and a beta of 1.45. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The company had revenue of $4.05 billion for the quarter. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Friday, October 31st. The Goldman Sachs Group increased 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. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Raymond James Financial increased their price target on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.97.

About Lumen Technologies

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.