SG Americas Securities LLC Purchases 868,066 Shares of Lumen Technologies, Inc. $LUMN

SG Americas Securities LLC increased its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 249.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,216,669 shares of the technology company’s stock after purchasing an additional 868,066 shares during the period. SG Americas Securities LLC’s holdings in Lumen Technologies were worth $8,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. grew its position in shares of Lumen Technologies by 58.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock valued at $37,050,000 after acquiring an additional 1,755,368 shares during the period. Private Advisory Group LLC bought a new stake in shares of Lumen Technologies in the 4th quarter valued at about $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Lumen Technologies by 210.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock valued at $4,372,000 after purchasing an additional 381,391 shares during the last quarter. CapWealth Advisors LLC lifted its stake in Lumen Technologies by 3.2% in the 4th quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock valued at $52,057,000 after purchasing an additional 204,970 shares during the last quarter. Finally, JT Stratford LLC bought a new position in Lumen Technologies during the third quarter worth about $2,061,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Down 2.9%

Lumen Technologies stock opened at $8.08 on Friday. The company’s 50-day moving average price is $9.06 and its two-hundred day moving average price is $8.14. The stock has a market cap of $8.33 billion, a P/E ratio of -4.64 and a beta of 1.70. Lumen Technologies, Inc. has a twelve month low of $3.37 and a twelve month high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) EPS. Equities analysts anticipate that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group upped their price objective on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research downgraded Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target 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.