KBC Group NV Buys 330,742 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

KBC Group NV grew its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 1,095.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 360,932 shares of the technology company's stock after acquiring an additional 330,742 shares during the period. KBC Group NV's holdings in Lumen Technologies were worth $1,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in shares of Lumen Technologies in the second quarter valued at approximately $25,000. Concord Wealth Partners lifted its position in Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock worth $28,000 after purchasing an additional 1,992 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Lumen Technologies during the 3rd quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies in the third quarter worth about $36,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Lumen Technologies during the third quarter worth about $46,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Price Performance

Shares of LUMN traded down $0.08 during mid-day trading on Wednesday, hitting $4.97. 35,175,368 shares of the company traded hands, compared to its average volume of 12,735,715. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The business has a 50-day moving average of $5.80 and a 200 day moving average of $5.99. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -2.29 and a beta of 1.28.

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, topping analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LUMN has been the subject of a number of recent research reports. TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Citigroup increased their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a research report on Friday, November 29th. The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.66.

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.