Crestwood Advisors Group LLC Buys Shares of 12,139 Lumen Technologies, Inc. (NYSE:LUMN)

Crestwood Advisors Group LLC purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,139 shares of the technology company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Congress Asset Management Co. purchased a new position in Lumen Technologies in the third quarter worth about $2,592,000. Quadrature Capital Ltd purchased a new position in Lumen Technologies in the 1st quarter worth approximately $468,000. Mackenzie Financial Corp lifted its position in Lumen Technologies by 267.4% in the 2nd quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock valued at $260,000 after acquiring an additional 172,040 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Lumen Technologies by 22.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock valued at $3,198,000 after purchasing an additional 401,399 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Lumen Technologies in the 3rd quarter worth $10,062,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Up 1.8 %

Shares of Lumen Technologies stock opened at $9.19 on Friday. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $9.34 billion, a PE ratio of -4.37 and a beta of 1.21. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $9.37. The company’s fifty day simple moving average is $6.47 and its 200-day simple moving average is $3.67.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. Lumen Technologies’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. As a group, equities analysts anticipate that Lumen Technologies, Inc. will post -0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

LUMN has been the topic of several recent analyst reports. TD Cowen dropped their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday. Bank of America raised their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. 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 report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of 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. Finally, The Goldman Sachs Group increased their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.02.

Insider Activity at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Lumen Technologies 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.