ExodusPoint Capital Management LP Has $572,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

ExodusPoint Capital Management LP grew its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 746.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,639 shares of the technology company's stock after acquiring an additional 94,922 shares during the quarter. ExodusPoint Capital Management LP's holdings in Lumen Technologies were worth $572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC bought a new position in shares of Lumen Technologies during the 4th quarter valued at about $1,139,000. Strategic Financial Concepts LLC lifted its holdings in shares of Lumen Technologies by 430.7% in the fourth 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 in the last quarter. Polianta Ltd acquired a new stake in Lumen Technologies in the 4th quarter valued at approximately $692,000. Mariner Investment Group LLC bought a new position in shares of Lumen Technologies during the 4th quarter worth approximately $531,000. Finally, Geode Capital Management LLC lifted its position in shares of 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 worth $165,776,000 after purchasing an additional 383,693 shares in the last quarter. Institutional investors own 66.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LUMN shares. Citigroup upgraded shares of 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 research note on Wednesday, February 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. 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 on the stock in a research note 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 company. According to data from MarketBeat, Lumen Technologies presently has a consensus rating of "Hold" and a consensus price target of $4.59.

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Lumen Technologies Stock Performance

Shares of Lumen Technologies stock traded down $0.15 on Wednesday, hitting $3.25. The stock had a trading volume of 4,710,189 shares, compared to its average volume of 19,074,892. The business's 50 day moving average is $4.42 and its two-hundred day moving average is $5.75. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -64.99 and a beta of 1.29. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month 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 released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 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 forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

About Lumen Technologies

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.