Quantbot Technologies LP Purchases 468,537 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Quantbot Technologies LP increased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 454.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,725 shares of the technology company's stock after buying an additional 468,537 shares during the quarter. Quantbot Technologies LP owned 0.06% of Lumen Technologies worth $3,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock worth $165,776,000 after buying an additional 383,693 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Lumen Technologies during the fourth quarter worth $45,089,000. Allianz Asset Management GmbH boosted its position in Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock worth $41,366,000 after purchasing an additional 1,710,373 shares during the last quarter. Principal Financial Group Inc. grew its stake in Lumen Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company's stock valued at $26,133,000 after purchasing an additional 128,172 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lumen Technologies by 23.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company's stock worth $21,399,000 after purchasing an additional 764,523 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Lumen Technologies Price Performance

Shares of LUMN traded down $0.24 during mid-day trading on Wednesday, reaching $4.17. 19,824,136 shares of the stock traded hands, compared to its average volume of 18,473,636. 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 1 year low of $0.97 and a 1 year high of $10.33. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -83.28 and a beta of 1.28. The firm has a fifty day moving average price of $4.95 and a 200 day moving average price of $6.06.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping 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%. As a group, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LUMN shares. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company raised shares of 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 equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.59.

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.