Amundi Acquires 341,369 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Amundi increased its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 188.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 522,434 shares of the technology company's stock after acquiring an additional 341,369 shares during the quarter. Amundi owned approximately 0.05% of Lumen Technologies worth $2,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in Lumen Technologies during the 4th quarter worth about $1,139,000. Strategic Financial Concepts LLC raised its holdings in shares of Lumen Technologies by 430.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock valued at $952,000 after acquiring an additional 145,542 shares during the period. Polianta Ltd purchased a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $692,000. Mariner Investment Group LLC purchased a new position in Lumen Technologies during the 4th quarter worth approximately $531,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Lumen Technologies during the 3rd quarter valued at $433,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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Lumen Technologies Stock Down 1.5 %

Shares of NYSE:LUMN traded down $0.08 on Thursday, reaching $4.92. The company had a trading volume of 5,361,916 shares, compared to its average volume of 18,315,523. The stock has a 50-day moving average price of $5.03 and a 200 day moving average price of $6.09. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The stock has a market capitalization of $4.98 billion, a P/E ratio of -98.28 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect 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.