GSA Capital Partners LLP Invests $183,000 in Lumen Technologies, Inc. (NYSE:LUMN)

GSA Capital Partners LLP bought a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the third quarter, Holdings Channel reports. The fund bought 25,737 shares of the technology company’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sawgrass Asset Management LLC boosted its stake in shares of Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after buying an additional 9,263 shares during the period. Sanctuary Advisors LLC acquired a new position in Lumen Technologies in the 2nd quarter valued at $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in Lumen Technologies in the 2nd quarter valued at approximately $26,000. Concord Wealth Partners boosted its holdings in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,992 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the second quarter valued at about $33,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN opened at $7.88 on Monday. The business has a fifty day moving average of $7.15 and a 200-day moving average of $4.27. The firm has a market cap of $8.00 billion, a PE ratio of -3.63 and a beta of 1.21. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33.

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 during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) EPS. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This trade represents a 2.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on LUMN shares. UBS Group increased their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen lowered their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $1.75 to $4.00 in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.02.

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.