Natixis Advisors LLC trimmed its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 55.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,204 shares of the technology company's stock after selling 83,624 shares during the quarter. Natixis Advisors LLC's holdings in Lumen Technologies were worth $357,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cerity Partners LLC lifted its position in shares of Lumen Technologies by 120.2% during the 3rd quarter. Cerity Partners LLC now owns 113,025 shares of the technology company's stock valued at $802,000 after buying an additional 61,689 shares in the last quarter. Algert Global LLC lifted its holdings in Lumen Technologies by 188.6% during the third quarter. Algert Global LLC now owns 293,530 shares of the technology company's stock valued at $2,084,000 after purchasing an additional 191,830 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Lumen Technologies by 9.4% in the third quarter. The Manufacturers Life Insurance Company now owns 557,868 shares of the technology company's stock worth $3,961,000 after purchasing an additional 48,007 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Lumen Technologies in the third quarter worth $733,000. Finally, Townsquare Capital LLC raised its position in shares of Lumen Technologies by 79.7% during the 3rd quarter. Townsquare Capital LLC now owns 34,582 shares of the technology company's stock valued at $246,000 after purchasing an additional 15,342 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.
Lumen Technologies Price Performance
Lumen Technologies stock remained flat at $3.94 during midday trading on Monday. The company had a trading volume of 20,125,366 shares, compared to its average volume of 18,894,218. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The business's 50 day moving average price is $4.85 and its two-hundred day moving average price is $6.03. The company has a market cap of $4.04 billion, a PE ratio of -78.78 and a beta of 1.28.
Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating 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%. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on LUMN. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and cut their target price for the stock from $8.00 to $6.50 in a research 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 target on the stock in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.59.
Check Out Our Latest Research Report on Lumen Technologies
Lumen Technologies Profile
(
Free Report)
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.
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