Swiss National Bank Sells 86,600 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Swiss National Bank lessened its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,899,900 shares of the technology company’s stock after selling 86,600 shares during the period. Swiss National Bank’s holdings in Lumen Technologies were worth $10,088,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of LUMN. Hennessy Advisors Inc. bought a new stake in Lumen Technologies during the fourth quarter worth about $45,089,000. Allianz Asset Management GmbH raised its holdings in Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after acquiring an additional 1,710,373 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Lumen Technologies by 23.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock valued at $21,399,000 after buying an additional 764,523 shares during the period. Sequoia Financial Advisors LLC raised its stake in Lumen Technologies by 46.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock valued at $11,055,000 after buying an additional 664,823 shares during the period. Finally, FORA Capital LLC bought a new stake in Lumen Technologies in the third quarter valued at approximately $2,909,000. Institutional investors own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LUMN. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $4.92 on Friday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -98.28 and a beta of 1.28. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock’s 50 day moving average is $5.02 and its 200-day moving average is $6.08.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Equities research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies Company Profile

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.