First Trust Direct Indexing L.P. Has $306,000 Stake in Lumen Technologies, Inc. (NYSE:LUMN)

First Trust Direct Indexing L.P. lessened its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,132 shares of the technology company’s stock after selling 2,469 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Lumen Technologies were worth $306,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LUMN. Commonwealth Equity Services LLC grew its stake in Lumen Technologies by 28.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 531,792 shares of the technology company’s stock valued at $830,000 after buying an additional 118,572 shares during the last quarter. Choreo LLC grew its position in shares of Lumen Technologies by 73.6% in the first quarter. Choreo LLC now owns 167,511 shares of the technology company’s stock valued at $261,000 after purchasing an additional 71,000 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after purchasing an additional 10,764 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Lumen Technologies by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 880,306 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 12,993 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Lumen Technologies during the 1st quarter valued at approximately $45,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Bank of America upped their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. UBS Group upped their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and an average price target of $4.09.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $7.48 on Tuesday. The firm has a market capitalization of $7.61 billion, a PE ratio of -3.56 and a beta of 1.21. 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, Inc. has a 12-month low of $0.97 and a 12-month high of $7.83. The firm has a 50-day moving average price of $6.24 and a 200 day moving average price of $3.51.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the business earned $0.10 EPS. Lumen Technologies’s quarterly revenue was down 10.7% compared to the same quarter last year. Research analysts anticipate that Lumen Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Fowler bought 10,000 shares of Lumen Technologies stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price 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 approximately $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.68% of the company’s stock.

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.