Coldstream Capital Management Inc. Purchases New Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Coldstream Capital Management Inc. acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,599 shares of the technology company’s stock, valued at approximately $125,000.

Other hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. bought a new stake in Lumen Technologies during the 3rd quarter valued at $433,000. Quantbot Technologies LP purchased a new stake in shares of Lumen Technologies during the 3rd quarter worth $733,000. Congress Asset Management Co. bought a new stake in Lumen Technologies during the third quarter valued at about $2,592,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Lumen Technologies by 9.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock valued at $23,184,000 after purchasing an additional 294,679 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Lumen Technologies by 267.4% in the second quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock worth $260,000 after purchasing an additional 172,040 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

LUMN opened at $5.98 on Wednesday. The firm has a market capitalization of $6.06 billion, a PE ratio of -2.75 and a beta of 1.21. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The firm’s 50-day moving average price is $7.16 and its 200 day moving average price is $4.93.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the prior year, the firm earned ($0.09) EPS. The firm’s revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LUMN shares. The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup raised their price objective on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, TD Cowen reduced their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.71.

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.