Catalyst Funds Management Pty Ltd Buys 95,800 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Catalyst Funds Management Pty Ltd lifted its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 2,281.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,000 shares of the technology company's stock after acquiring an additional 95,800 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Lumen Technologies were worth $531,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LUMN. Hennessy Advisors Inc. bought a new position in shares of Lumen Technologies during the fourth quarter valued at $45,089,000. Victory Capital Management Inc. raised its holdings in Lumen Technologies by 1,081.0% in the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company's stock worth $16,819,000 after buying an additional 2,168,325 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock worth $41,366,000 after buying an additional 1,710,373 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Lumen Technologies by 23.4% during the fourth 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 buying an additional 764,523 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Lumen Technologies by 46.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company's stock valued at $11,055,000 after acquiring an additional 664,823 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

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Lumen Technologies Stock Performance

NYSE:LUMN traded down $0.08 on Thursday, hitting $4.92. The stock had a trading volume of 5,362,932 shares, compared to its average volume of 12,015,521. The business's 50-day simple moving average is $5.03 and its two-hundred day simple moving average is $6.09. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -98.28 and a beta of 1.28. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. 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 posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping 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, research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LUMN. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. 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 report on Friday, February 21st. Finally, Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, 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.