Quantbot Technologies LP raised its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 454.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 571,725 shares of the technology company's stock after purchasing 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 reporting period.
Other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC boosted its position in 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 valued at $78,000 after buying an additional 2,489 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock valued at $222,000 after acquiring an additional 2,657 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Lumen Technologies by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock worth $111,000 after acquiring an additional 2,844 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company's stock worth $207,000 after purchasing an additional 3,109 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in Lumen Technologies by 14.8% during the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company's stock valued at $160,000 after purchasing an additional 3,868 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.
Lumen Technologies Price Performance
Shares of Lumen Technologies stock traded down $0.09 on Thursday, reaching $4.09. The company's stock had a trading volume of 14,274,617 shares, compared to its average volume of 18,456,908. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The company has a market capitalization of $4.14 billion, a P/E ratio of -81.68 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The stock has a 50-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 quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts have weighed in on LUMN shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research report on Friday, February 21st. Finally, Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.59.
Read Our Latest Report 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.
See Also
Before you consider Lumen Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lumen Technologies wasn't on the list.
While Lumen Technologies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
