Massachusetts Financial Services Co. MA Acquires New Position in Lumen Technologies, Inc. (NYSE:LUMN)

Massachusetts Financial Services Co. MA acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 302,141 shares of the technology company's stock, valued at approximately $1,604,000.

A number of other large investors have also recently made changes to their positions in LUMN. Kovitz Investment Group Partners LLC purchased a new stake in shares of Lumen Technologies in the third quarter valued at $180,000. Y Intercept Hong Kong Ltd bought a new position in Lumen Technologies during the 3rd quarter valued at about $86,000. Geode Capital Management LLC lifted 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 worth $165,776,000 after purchasing an additional 383,693 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Lumen Technologies during the third quarter valued at approximately $125,000. Finally, Neo Ivy Capital Management bought a new position in shares of Lumen Technologies during the third quarter valued at approximately $570,000. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Up 1.9 %

NYSE LUMN traded up $0.07 during trading on Monday, reaching $3.53. 930,554 shares of the company's stock traded hands, compared to its average volume of 19,105,413. The company's 50 day simple moving average is $4.48 and its two-hundred day simple moving average is $5.79. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -70.49 and a beta of 1.29. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

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Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 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, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective for the company in a report on Friday, February 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of "Hold" and an average target price of $4.59.

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.