Mercer Global Advisors Inc. ADV Boosts Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Mercer Global Advisors Inc. ADV boosted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 88.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,081 shares of the technology company’s stock after acquiring an additional 50,381 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Lumen Technologies were worth $118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LUMN. Arizona State Retirement System grew its position in shares of Lumen Technologies by 2.0% during the second quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock worth $311,000 after purchasing an additional 5,418 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Lumen Technologies by 0.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 888,228 shares of the technology company’s stock valued at $977,000 after buying an additional 7,922 shares in the last quarter. Sawgrass Asset Management LLC grew its holdings in Lumen Technologies by 68.5% in the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after purchasing an additional 9,263 shares during the last quarter. Argent Advisors Inc. increased its holdings in Lumen Technologies by 12.4% in the 2nd quarter. Argent Advisors Inc. now owns 93,937 shares of the technology company’s stock worth $103,000 after buying an additional 10,400 shares during the period. Finally, Fidelis Capital Partners LLC lifted its holdings in Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after acquiring an additional 10,764 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.68% of the stock is currently owned by insiders.

Lumen Technologies Stock Down 5.4 %

Shares of LUMN stock opened at $6.72 on Wednesday. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $7.83. The stock has a market cap of $6.82 billion, a P/E ratio of -0.61 and a beta of 1.18. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $5.32 and a 200 day moving average price of $2.71.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. Analysts predict that Lumen Technologies, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LUMN shares. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. Wells Fargo & Company cut Lumen Technologies from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $1.75 to $4.00 in a report on Friday, August 16th. Moffett Nathanson raised their price target on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Bank of America raised their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Profile

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.