Quadrature Capital Ltd Increases Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Quadrature Capital Ltd boosted its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 248.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511,162 shares of the technology company's stock after purchasing an additional 364,375 shares during the quarter. Quadrature Capital Ltd owned about 0.05% of Lumen Technologies worth $3,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Sawgrass Asset Management LLC grew its position in Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock valued at $25,000 after acquiring an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Lumen Technologies during the second quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd bought a new position in Lumen Technologies during the second quarter valued at approximately $26,000. Concord Wealth Partners grew its position in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after acquiring an additional 1,992 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Lumen Technologies in the second quarter worth approximately $33,000. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Trading Up 8.2 %

NYSE:LUMN traded up $0.53 during trading hours on Friday, hitting $7.00. The company had a trading volume of 12,316,612 shares, compared to its average volume of 19,523,961. The company has a market capitalization of $7.10 billion, a PE ratio of -3.13 and a beta of 1.21. The stock has a 50-day moving average price of $7.21 and a 200 day moving average price of $4.60. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20.

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 for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The business's revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LUMN shares. TD Cowen cut their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company cut shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $1.75 to $4.00 in a report on Friday, August 16th. The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Bank of America raised their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an "underperform" rating in a report on Thursday, August 8th. Finally, Citigroup raised their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.71.

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.