Havemeyer Place LP Buys Shares of 239,301 Lumen Technologies, Inc. $LUMN

Havemeyer Place LP bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 239,301 shares of the technology company’s stock, valued at approximately $1,859,000.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Lumen Technologies in the 4th quarter valued at about $30,000. UMB Bank n.a. increased its holdings in Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after buying an additional 1,351 shares during the period. Fifth Third Bancorp boosted its stake in shares of Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,051 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Lumen Technologies by 3,093.3% in the 4th quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock valued at $48,000 after purchasing an additional 6,032 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $50,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Price Performance

NYSE:LUMN opened at $8.91 on Friday. The firm’s 50 day simple moving average is $8.72 and its 200 day simple moving average is $8.13. Lumen Technologies, Inc. has a one year low of $3.37 and a one year high of $11.95. The company has a market cap of $9.18 billion, a PE ratio of -5.12 and a beta of 1.70.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the company posted ($0.13) EPS. Lumen Technologies’s revenue for the quarter was down 8.9% compared to the same quarter last year. Equities research analysts expect that Lumen Technologies, Inc. will post -0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Zacks Research downgraded shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. raised their price target on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. UBS Group raised their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Ten investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of “Reduce” and a consensus target price of $7.91.

Lumen Technologies Company Profile

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.