239,301 Shares in Lumen Technologies, Inc. $LUMN Acquired by Havemeyer Place LP

Havemeyer Place LP bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 239,301 shares of the technology company’s stock, valued at approximately $1,859,000.

Several other hedge funds have also added to or reduced their stakes in LUMN. BI Asset Management Fondsmaeglerselskab A S bought a new position in Lumen Technologies during the 4th quarter worth approximately $2,142,000. Parallel Advisors LLC raised its holdings in Lumen Technologies by 22.4% during the 4th quarter. Parallel Advisors LLC now owns 8,095 shares of the technology company’s stock worth $63,000 after purchasing an additional 1,481 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in Lumen Technologies by 41.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 17,390 shares of the technology company’s stock worth $135,000 after purchasing an additional 5,086 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Lumen Technologies by 27.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 28,844 shares of the technology company’s stock worth $224,000 after purchasing an additional 6,298 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in Lumen Technologies during the 4th quarter worth approximately $99,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on LUMN shares. Zacks Research lowered shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. UBS Group raised their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st. Finally, TD Cowen raised their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $7.91.

Lumen Technologies Stock Down 10.0%

NYSE:LUMN opened at $8.91 on Friday. The company has a fifty day moving average of $8.72 and a 200-day moving average of $8.13. The firm has a market capitalization of $9.18 billion, a P/E ratio of -5.12 and a beta of 1.70. Lumen Technologies, Inc. has a twelve month low of $3.37 and a twelve month high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results 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. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) earnings per share. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

Lumen Technologies Company 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.