Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 111.88MM shares of Lumen Technologies Inc (LUMN). This represents 11.2% of the company.
In their previous filing dated January 31, 2023 they reported 77.85MM shares and 7.50% of the company, an increase in shares of 43.70% and an increase in total ownership of 3.70% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 92.73% Upside
As of March 30, 2023, the average one-year price target for Lumen Technologies is $4.66. The forecasts range from a low of $2.52 to a high of $9.24. The average price target represents an increase of 92.73% from its latest reported closing price of $2.42.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lumen Technologies is $15,033MM, a decrease of 13.99%. The projected annual non-GAAP EPS is $0.76.
What is the Fund Sentiment?
There are 1422 funds or institutions reporting positions in Lumen Technologies. This is a decrease of 24 owner(s) or 1.66% in the last quarter. Average portfolio weight of all funds dedicated to LUMN is 0.15%, a decrease of 24.57%. Total shares owned by institutions increased in the last three months by 0.27% to 921,805K shares. The put/call ratio of LUMN is 1.20, indicating a bearish outlook.
What are Other Shareholders Doing?
Dynamic Technology Lab Private holds 581K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 220K shares, representing an increase of 62.04%. The firm increased its portfolio allocation in LUMN by 91.41% over the last quarter.
Macquarie Group holds 216K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 195K shares, representing an increase of 9.81%. The firm decreased its portfolio allocation in LUMN by 72.42% over the last quarter.
Penserra Capital Management holds 649K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 381K shares, representing an increase of 41.25%. The firm decreased its portfolio allocation in LUMN by 58.53% over the last quarter.
Hongkou Capital holds 25K shares representing 0.00% ownership of the company.
Schroder Investment Management Group holds 53K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 55K shares, representing a decrease of 3.13%. The firm decreased its portfolio allocation in LUMN by 85.22% over the last quarter.
Lumen Technologies Background Information
(This description is provided by the company.)
Lumen is guided by its belief that humanity is at its best when technology advances the way we live and work. With approximately 450,000 route fiber miles and serving customers in more than 60 countries, it delivers the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
