Alliancebernstein L.P. Has $8.07 Million Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Alliancebernstein L.P. raised its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 16.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,520,208 shares of the technology company's stock after buying an additional 219,473 shares during the quarter. Alliancebernstein L.P. owned about 0.15% of Lumen Technologies worth $8,072,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its position in Lumen Technologies by 7.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after buying an additional 2,457 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock worth $78,000 after buying an additional 2,489 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Lumen Technologies by 6.8% during the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock worth $222,000 after purchasing an additional 2,657 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Lumen Technologies by 15.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock worth $111,000 after buying an additional 2,844 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company's stock worth $207,000 after purchasing an additional 3,109 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

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Analyst Upgrades and Downgrades

LUMN has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price on the stock in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Lumen Technologies has a consensus rating of "Hold" and a consensus price target of $4.59.

Lumen Technologies Stock Performance

Lumen Technologies stock traded down $0.07 during mid-day trading on Tuesday, hitting $3.41. 7,108,215 shares of the company's stock traded hands, compared to its average volume of 19,088,299. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The company has a market cap of $3.49 billion, a PE ratio of -68.09 and a beta of 1.29. The firm has a 50 day moving average price of $4.45 and a 200 day moving average price of $5.77. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies 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.