Lee Danner & Bass Inc. Increases Stock Position in Lumen Technologies, Inc. $LUMN

Lee Danner & Bass Inc. raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 708.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 602,245 shares of the technology company’s stock after acquiring an additional 527,710 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Lumen Technologies were worth $4,186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new position in shares of Lumen Technologies in the fourth quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in shares of Lumen Technologies during the fourth quarter valued at $30,000. Los Angeles Capital Management LLC bought a new stake in Lumen Technologies in the 4th quarter worth about $35,000. Hantz Financial Services Inc. raised its position in Lumen Technologies by 3,093.3% in the 4th quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $48,000 after buying an additional 6,032 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new position in Lumen Technologies in the 4th quarter worth about $50,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

LUMN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Tuesday, April 21st. Zacks Research cut shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. TD Cowen boosted their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Finally, UBS Group increased their price target on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Stock Down 0.4%

Lumen Technologies stock opened at $6.41 on Friday. The business has a 50-day simple moving average of $8.90 and a two-hundred day simple moving average of $8.09. The company has a market cap of $6.60 billion, a P/E ratio of -3.68 and a beta of 1.75. Lumen Technologies, Inc. has a 52-week low of $3.37 and a 52-week high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.83 billion. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) EPS. Research analysts anticipate that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.