Connor Clark & Lunn Investment Management Ltd. Raises Position in Lumen Technologies, Inc. (NYSE:LUMN)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 23.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,029,938 shares of the technology company's stock after purchasing an additional 764,523 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.40% of Lumen Technologies worth $21,399,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

LUMN has been the subject of a number of recent analyst reports. 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 reduced their price target for the stock 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 analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.59.

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Lumen Technologies Stock Performance

LUMN stock traded up $0.21 during trading hours on Monday, hitting $5.08. 7,636,329 shares of the stock were exchanged, compared to its average volume of 18,408,339. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The firm has a market capitalization of $5.15 billion, a P/E ratio of -101.48 and a beta of 1.28. The company has a 50-day simple moving average of $5.07 and a two-hundred day simple moving average of $6.10.

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 for the quarter, beating analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.