Sanctuary Advisors LLC Has $126,000 Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Sanctuary Advisors LLC cut its position in Lumen Technologies, Inc. (NYSE:LUMN) by 22.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,995 shares of the technology company’s stock after selling 4,763 shares during the quarter. Sanctuary Advisors LLC’s holdings in Lumen Technologies were worth $126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stephens Inc. AR raised its position in Lumen Technologies by 7.7% during the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,935 shares in the last quarter. Concord Wealth Partners raised its holdings in shares of Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares in the last quarter. US Bancorp DE lifted its position in shares of Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after buying an additional 2,350 shares during the last quarter. Xponance Inc. grew its position in Lumen Technologies by 4.0% in the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after acquiring an additional 2,487 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in Lumen Technologies by 23.6% in the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock valued at $95,000 after acquiring an additional 2,554 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $5.40 on Tuesday. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of -2.49 and a beta of 1.21. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company’s fifty day moving average is $7.08 and its 200 day moving average is $5.19. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Sell-side analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LUMN shares. TD Cowen reduced their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. Citigroup upped their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.66.

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.