Cibc World Markets Corp Invests $503,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Cibc World Markets Corp purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 94,732 shares of the technology company's stock, valued at approximately $503,000.

Several other hedge funds also recently made changes to their positions in LUMN. Geode Capital Management LLC increased its holdings in Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock worth $165,776,000 after buying an additional 383,693 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies during the fourth quarter valued at approximately $45,089,000. Allianz Asset Management GmbH grew its holdings in shares of Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock worth $41,366,000 after purchasing an additional 1,710,373 shares during the last quarter. Principal Financial Group Inc. grew its position in Lumen Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company's stock worth $26,133,000 after acquiring an additional 128,172 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Lumen Technologies by 23.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company's stock valued at $21,399,000 after acquiring an additional 764,523 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

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Lumen Technologies Stock Down 9.9 %

LUMN stock traded down $0.48 on Tuesday, reaching $4.38. 44,603,187 shares of the company traded hands, compared to its average volume of 18,337,033. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The company has a market cap of $4.44 billion, a P/E ratio of -87.58 and a beta of 1.28. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The firm has a fifty day simple moving average of $4.98 and a 200-day simple moving average of $6.07.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results 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%. Research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. 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 for the company in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lumen Technologies has an average rating of "Hold" and a consensus price target of $4.59.

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.