Dynamic Technology Lab Private Ltd acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 113,901 shares of the technology company's stock, valued at approximately $605,000.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC lifted its position in Lumen Technologies by 7.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after acquiring an additional 2,457 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock valued at $78,000 after purchasing an additional 2,489 shares during the period. Avior Wealth Management LLC grew its holdings in Lumen Technologies by 6.8% during the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock valued at $222,000 after purchasing an additional 2,657 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Lumen Technologies by 15.8% during 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 period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Lumen Technologies by 8.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company's stock worth $207,000 after buying an additional 3,109 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.
Wall Street Analysts Forecast Growth
LUMN has been the topic of a number of analyst reports. 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two research 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.59.
Read Our Latest Stock Report on Lumen Technologies
Lumen Technologies Stock Performance
LUMN stock traded down $0.09 during trading on Friday, hitting $3.46. 6,396,522 shares of the company's stock traded hands, compared to its average volume of 19,177,002. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -69.09 and a beta of 1.29. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The stock has a fifty day moving average price of $4.48 and a two-hundred day moving average price of $5.79. 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 announced its quarterly earnings data 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 net margin of 0.42% and a negative return on equity of 46.17%. As a group, equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.
About Lumen Technologies
(
Free Report)
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.
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