Y Intercept Hong Kong Ltd Grows Stock Position in Lumen Technologies, Inc. $LUMN

Y Intercept Hong Kong Ltd increased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1,088.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 297,132 shares of the technology company’s stock after purchasing an additional 272,132 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Lumen Technologies were worth $1,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Lumen Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after acquiring an additional 26,305 shares during the period. Empowered Funds LLC lifted its holdings in shares of Lumen Technologies by 26.8% during the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock valued at $1,066,000 after acquiring an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Lumen Technologies by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock worth $11,702,000 after acquiring an additional 300,328 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after acquiring an additional 3,391 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Lumen Technologies by 8.5% in the second quarter. State of Alaska Department of Revenue now owns 609,838 shares of the technology company’s stock valued at $2,670,000 after acquiring an additional 47,542 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LUMN has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Zacks Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average target price of $6.72.

Lumen Technologies Price Performance

Shares of LUMN opened at $8.93 on Friday. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $11.95. The company has a market cap of $9.15 billion, a PE ratio of -5.41 and a beta of 1.46. The firm has a 50-day moving average of $8.22 and a 200-day moving average of $6.90.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. Analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current 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.