Quantbot Technologies LP Invests $733,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Quantbot Technologies LP bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,188 shares of the technology company's stock, valued at approximately $733,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LUMN. Price T Rowe Associates Inc. MD lifted its stake in shares of Lumen Technologies by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company's stock worth $1,291,000 after buying an additional 36,559 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Lumen Technologies by 527.6% in the 2nd quarter. SG Americas Securities LLC now owns 399,656 shares of the technology company's stock valued at $440,000 after buying an additional 335,971 shares during the last quarter. Sawgrass Asset Management LLC raised its stake 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 worth $25,000 after buying an additional 9,263 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter valued at $33,000. Finally, Louisiana State Employees Retirement System grew its stake in Lumen Technologies by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 510,700 shares of the technology company's stock valued at $562,000 after acquiring an additional 11,000 shares during the period. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

Lumen Technologies stock traded down $0.18 during trading hours on Tuesday, reaching $6.81. 5,573,072 shares of the stock were exchanged, compared to its average volume of 19,558,232. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The stock has a market cap of $6.91 billion, a P/E ratio of -3.18 and a beta of 1.21. The firm's 50 day moving average is $7.24 and its 200 day moving average is $4.53.

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

Analysts Set New Price Targets

Several research firms recently commented on LUMN. UBS Group boosted their target price on Lumen Technologies from $1.50 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Citigroup upped their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a research note on Friday. TD Cowen decreased their price target on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Lumen Technologies from an "underweight" rating to a "neutral" rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.71.

Lumen Technologies Company 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.