Polianta Ltd Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Polianta Ltd purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 130,400 shares of the technology company's stock, valued at approximately $692,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies during the 4th quarter worth $45,089,000. Millennium Management LLC boosted its position in Lumen Technologies by 129.8% during the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock worth $8,640,000 after acquiring an additional 4,436,710 shares during the last quarter. Front Street Capital Management Inc. grew its stake in Lumen Technologies by 30.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock valued at $12,827,000 after acquiring an additional 2,697,423 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Lumen Technologies by 1,081.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company's stock valued at $16,819,000 after acquiring an additional 2,168,325 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Lumen Technologies in the 3rd quarter worth approximately $10,062,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Trading Up 2.1 %

LUMN traded up $0.12 on Monday, hitting $5.65. The company had a trading volume of 7,134,986 shares, compared to its average volume of 10,382,054. The company's fifty day moving average price is $6.58 and its 200 day moving average price is $5.65. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The firm has a market cap of $5.73 billion, a P/E ratio of -2.60 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. Lumen Technologies's revenue was down 11.5% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on LUMN. TD Cowen cut their price target on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price target (up previously from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. Finally, Citigroup raised their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a research report on Friday, November 29th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.66.

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.