Y Intercept Hong Kong Ltd Sells 257,313 Shares of Lumen Technologies, Inc. $LUMN

Y Intercept Hong Kong Ltd cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 88.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,071 shares of the technology company’s stock after selling 257,313 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Lumen Technologies were worth $230,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LUMN. Kemnay Advisory Services Inc. bought a new position in shares of Lumen Technologies in the 4th quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in shares of Lumen Technologies during the 4th quarter worth approximately $30,000. Los Angeles Capital Management LLC acquired a new position in shares of Lumen Technologies during the 4th quarter worth approximately $35,000. Hantz Financial Services Inc. raised its stake in shares of Lumen Technologies by 3,093.3% during the 4th quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $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 currently owned by institutional investors and hedge funds.

Lumen Technologies Trading Up 1.2%

LUMN opened at $6.45 on Thursday. The stock’s fifty day simple moving average is $8.50 and its 200 day simple moving average is $8.02. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95. The stock has a market cap of $6.64 billion, a PE ratio of -3.70 and a beta of 1.75.

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

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of recent analyst reports. UBS Group boosted their target price on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. TD Cowen boosted their price objective on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their target price 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. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $7.91.

Lumen Technologies 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.