Madison Investment Advisors LLC Invests $658,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Madison Investment Advisors LLC bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 124,000 shares of the technology company's stock, valued at approximately $658,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LUMN. Empowered Funds LLC purchased a new position in shares of Lumen Technologies during the fourth quarter worth about $1,139,000. Strategic Financial Concepts LLC grew its stake in Lumen Technologies by 430.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after buying an additional 145,542 shares in the last quarter. Polianta Ltd purchased a new position in Lumen Technologies in the 4th quarter worth approximately $692,000. Mariner Investment Group LLC bought a new position in shares of Lumen Technologies in the 4th quarter worth $531,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Lumen Technologies during the 3rd quarter valued at $733,000. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Down 9.9 %

Shares of NYSE:LUMN traded down $0.48 during trading on Tuesday, hitting $4.38. The stock had a trading volume of 44,603,187 shares, compared to its average volume of 18,337,033. 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, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a market capitalization of $4.44 billion, a PE ratio of -87.58 and a beta of 1.28. The firm's fifty day moving average is $4.98 and its 200 day moving average is $6.07.

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Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 46.17% and a negative net margin of 0.42%. Analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LUMN shares. Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a report 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 target price on the stock in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.