Y Intercept Hong Kong Ltd Grows Stock Position in Lumen Technologies, Inc. $LUMN

Y Intercept Hong Kong Ltd grew its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1,088.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 297,132 shares of the technology company’s stock after acquiring an additional 272,132 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Lumen Technologies were worth $1,818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Lumen Technologies during the 2nd quarter valued at about $47,923,000. Curi Capital LLC purchased a new position in shares of Lumen Technologies in the second quarter worth about $14,144,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Lumen Technologies during the 3rd quarter valued at approximately $18,439,000. Canada Pension Plan Investment Board purchased a new stake in shares of Lumen Technologies during the second quarter worth about $8,151,000. Finally, Jupiter Asset Management Ltd. grew its stake in Lumen Technologies by 162.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,786,366 shares of the technology company’s stock valued at $12,204,000 after acquiring an additional 1,724,088 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

NYSE:LUMN opened at $8.93 on Friday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of -5.41 and a beta of 1.46. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $11.95. The business has a 50 day moving average of $8.22 and a 200 day moving average of $6.90.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) earnings per share. As a group, sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on LUMN shares. Royal Bank Of Canada raised their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Friday, October 31st. Zacks Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.72.

About Lumen Technologies

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.