Sterling Capital Management LLC Boosts Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Sterling Capital Management LLC lifted its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 4,803.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,097 shares of the technology company's stock after acquiring an additional 168,587 shares during the period. Sterling Capital Management LLC's holdings in Lumen Technologies were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in LUMN. Empowered Funds LLC bought a new position in shares of Lumen Technologies in the fourth quarter valued at $1,139,000. Strategic Financial Concepts LLC grew its position in Lumen Technologies by 430.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock valued at $952,000 after buying an additional 145,542 shares during the period. Polianta Ltd purchased a new position in Lumen Technologies in the fourth quarter valued at approximately $692,000. Mariner Investment Group LLC purchased a new stake in Lumen Technologies during the fourth quarter valued at about $531,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Lumen Technologies by 8.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company's stock worth $4,967,000 after buying an additional 73,841 shares during the period. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Trading Down 0.2 %

NYSE:LUMN traded down $0.01 during trading hours on Friday, hitting $3.28. The company had a trading volume of 8,949,564 shares, compared to its average volume of 19,193,290. 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 $3.36 billion, a PE ratio of -65.49 and a beta of 1.29. The stock has a 50-day moving average price of $4.32 and a 200 day moving average price of $5.68. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results 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%. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LUMN has been the subject of several research analyst reports. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective for the company in a research note on Friday, February 21st. Royal Bank of Canada reissued a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their price objective for the stock 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 given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.