UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 229,281 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,487,354 shares of the technology company’s stock after selling 229,281 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lumen Technologies were worth $17,660,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Lumen Technologies by 129.8% during the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after purchasing an additional 4,436,710 shares during the period. Front Street Capital Management Inc. increased its position in shares of Lumen Technologies by 30.1% during the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after purchasing an additional 2,697,423 shares during the period. Victory Capital Management Inc. increased its position in shares of Lumen Technologies by 1,081.0% during the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock valued at $16,819,000 after purchasing an additional 2,168,325 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Lumen Technologies during the third quarter valued at approximately $10,062,000. Finally, AQR Capital Management LLC boosted its stake in Lumen Technologies by 52.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock valued at $3,712,000 after buying an additional 1,246,289 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $7.00 on Friday. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $7.10 billion, a P/E ratio of -3.23 and a beta of 1.21. The business’s fifty day moving average is $7.21 and its two-hundred day moving average is $4.64. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS 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 business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the firm posted ($0.09) EPS. Lumen Technologies’s revenue for the quarter was down 11.5% compared to the same quarter last year. Equities research analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.