Optimize Financial Inc purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 160,097 shares of the technology company's stock, valued at approximately $850,000.
Other hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its stake in shares of Lumen Technologies by 7.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock valued at $182,000 after purchasing an additional 2,457 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock worth $78,000 after buying an additional 2,489 shares during the last quarter. Avior Wealth Management LLC grew its position in Lumen Technologies by 6.8% during the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock valued at $222,000 after buying an additional 2,657 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock valued at $111,000 after buying an additional 2,844 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of Lumen Technologies by 28.6% during the 4th quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company's stock worth $73,000 after acquiring an additional 3,069 shares during the last quarter. Institutional investors own 66.19% of the company's stock.
Lumen Technologies Trading Down 3.5 %
Shares of NYSE LUMN traded down $0.12 during trading hours on Wednesday, reaching $3.28. The stock had a trading volume of 8,216,564 shares, compared to its average volume of 19,136,390. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The business's fifty day moving average price is $4.38 and its two-hundred day moving average price is $5.73. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -65.59 and a beta of 1.29. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33.
Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share 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 expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on LUMN. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price objective 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 target on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $4.59.
Read Our Latest Analysis on LUMN
About Lumen Technologies
(
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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