GAMMA Investing LLC Boosts Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

GAMMA Investing LLC grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 1,901.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,846 shares of the technology company’s stock after purchasing an additional 6,504 shares during the quarter. GAMMA Investing LLC’s holdings in Lumen Technologies were worth $49,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in Lumen Technologies in the fourth quarter worth approximately $264,000. Vanguard Group Inc. lifted its stake in Lumen Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company’s stock worth $216,540,000 after acquiring an additional 927,331 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in Lumen Technologies in the fourth quarter worth approximately $27,000. Fulton Bank N.A. purchased a new position in Lumen Technologies in the first quarter worth approximately $48,000. Finally, Range Financial Group LLC lifted its stake in Lumen Technologies by 129.6% in the first quarter. Range Financial Group LLC now owns 109,181 shares of the technology company’s stock worth $170,000 after acquiring an additional 61,632 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. TD Cowen raised their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. UBS Group raised their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Moffett Nathanson raised their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.09.

Insider Activity at Lumen Technologies

In other news, Director James Fowler acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the transaction, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.68% of the stock is currently owned by insiders.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $6.18 on Friday. The firm’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $3.09. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of -0.57 and a beta of 1.19. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $7.83. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

Lumen Technologies Company 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.