Lee Danner & Bass Inc. Boosts Position in Lumen Technologies, Inc. $LUMN

Lee Danner & Bass Inc. lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 708.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 602,245 shares of the technology company’s stock after acquiring an additional 527,710 shares during the quarter. Lee Danner & Bass Inc. owned approximately 0.06% of Lumen Technologies worth $4,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. increased its position in Lumen Technologies by 2.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock valued at $479,000 after purchasing an additional 1,230 shares during the period. Xponance Inc. boosted its stake in shares of Lumen Technologies by 1.7% during the 3rd quarter. Xponance Inc. now owns 75,686 shares of the technology company’s stock valued at $463,000 after purchasing an additional 1,273 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Lumen Technologies by 4.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 31,875 shares of the technology company’s stock valued at $222,000 after purchasing an additional 1,393 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Lumen Technologies by 7.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,821 shares of the technology company’s stock valued at $162,000 after buying an additional 1,417 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in Lumen Technologies by 10.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 15,243 shares of the technology company’s stock worth $118,000 after buying an additional 1,460 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

Shares of LUMN opened at $6.41 on Friday. The stock has a market cap of $6.60 billion, a PE ratio of -3.68 and a beta of 1.75. Lumen Technologies, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $11.95. The firm’s 50-day simple moving average is $8.90 and its two-hundred day simple moving average is $8.09.

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

Wall Street Analyst Weigh In

LUMN has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. UBS Group increased their target price on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Zacks Research cut Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, TD Cowen upped their price target on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently 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.