Sei Investments Co. Has $943,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Sei Investments Co. raised its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 273.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,538 shares of the technology company's stock after purchasing an additional 129,945 shares during the period. Sei Investments Co.'s holdings in Lumen Technologies were worth $943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake 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 valued at $165,776,000 after acquiring an additional 383,693 shares during the period. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter valued at $45,089,000. Allianz Asset Management GmbH lifted its holdings in shares of Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock valued at $41,366,000 after acquiring an additional 1,710,373 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Lumen Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company's stock valued at $26,133,000 after purchasing an additional 128,172 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 worth $21,399,000 after purchasing an additional 764,523 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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Lumen Technologies Trading Down 2.4 %

Shares of LUMN traded down $0.09 during trading hours on Friday, hitting $3.46. 6,396,522 shares of the stock traded hands, compared to its average volume of 19,129,161. The business has a fifty day moving average of $4.48 and a 200-day moving average of $5.80. 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 $3.54 billion, a PE ratio of -69.09 and a beta of 1.29. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company raised 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 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 company. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of "Hold" and a consensus target price 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.