Townsquare Capital LLC Increases Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Townsquare Capital LLC boosted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 79.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,582 shares of the technology company’s stock after buying an additional 15,342 shares during the quarter. Townsquare Capital LLC’s holdings in Lumen Technologies were worth $246,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LUMN. Price T Rowe Associates Inc. MD boosted its stake in Lumen Technologies by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company’s stock worth $1,291,000 after buying an additional 36,559 shares during the period. SG Americas Securities LLC boosted its stake in Lumen Technologies by 527.6% during the second quarter. SG Americas Securities LLC now owns 399,656 shares of the technology company’s stock worth $440,000 after buying an additional 335,971 shares during the period. Sawgrass Asset Management LLC boosted its stake in shares of Lumen Technologies by 68.5% in the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after purchasing an additional 9,263 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Lumen Technologies in the second quarter valued at approximately $33,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Lumen Technologies by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 510,700 shares of the technology company’s stock valued at $562,000 after purchasing an additional 11,000 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on LUMN shares. TD Cowen lowered their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company lowered shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $1.75 to $4.00 in a research note on Friday, August 16th. Citigroup raised their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus target price of $4.71.

Lumen Technologies Stock Up 8.2 %

LUMN stock opened at $7.00 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company’s 50 day moving average is $7.21 and its two-hundred day moving average is $4.64. The stock has a market cap of $7.10 billion, a P/E ratio of -3.23 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the business posted ($0.09) EPS. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. Research analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

About Lumen Technologies

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.