SG Americas Securities LLC Sells 346,974 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

SG Americas Securities LLC trimmed its position in Lumen Technologies, Inc. (NYSE:LUMN) by 86.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,682 shares of the technology company’s stock after selling 346,974 shares during the period. SG Americas Securities LLC’s holdings in Lumen Technologies were worth $374,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LUMN. Virtu Financial LLC acquired a new position in shares of Lumen Technologies during the fourth quarter worth approximately $264,000. Vanguard Group Inc. lifted its stake in shares of Lumen Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company’s stock valued at $216,540,000 after buying an additional 927,331 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of Lumen Technologies during the fourth quarter valued at about $27,000. Fulton Bank N.A. bought a new stake in shares of Lumen Technologies during the first quarter worth about $48,000. Finally, Range Financial Group LLC raised its holdings in shares of Lumen Technologies by 129.6% in the 1st 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. 66.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the purchase, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

Lumen Technologies Stock Up 9.1 %

LUMN opened at $6.75 on Friday. Lumen Technologies, Inc. has a twelve month low of $0.78 and a twelve month high of $7.83. The company’s 50-day moving average price is $6.10 and its two-hundred day moving average price is $3.13. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -0.62 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on LUMN shares. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Moffett Nathanson increased their price target on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. UBS Group increased their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $4.09.

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.