Trexquant Investment LP Purchases Shares of 2,435,026 Lumen Technologies, Inc. (NYSE:LUMN)

Trexquant Investment LP bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,435,026 shares of the technology company's stock, valued at approximately $12,930,000. Trexquant Investment LP owned about 0.24% of Lumen Technologies at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LUMN. Cerity Partners LLC grew its stake in shares of Lumen Technologies by 120.2% in the third quarter. Cerity Partners LLC now owns 113,025 shares of the technology company's stock worth $802,000 after acquiring an additional 61,689 shares during the period. The Manufacturers Life Insurance Company raised its stake in Lumen Technologies by 9.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 557,868 shares of the technology company's stock valued at $3,961,000 after buying an additional 48,007 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Lumen Technologies during the 3rd quarter valued at $733,000. Townsquare Capital LLC boosted its stake in shares of Lumen Technologies by 79.7% in the 3rd quarter. Townsquare Capital LLC now owns 34,582 shares of the technology company's stock worth $246,000 after buying an additional 15,342 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of Lumen Technologies by 51.6% in the third quarter. Glenmede Trust Co. NA now owns 23,961 shares of the technology company's stock worth $170,000 after acquiring an additional 8,152 shares during the period. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have weighed in on LUMN. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price on the stock in a report on Friday, February 21st. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Lumen Technologies has an average rating of "Hold" and an average price target of $4.59.

Lumen Technologies Price Performance

Shares of LUMN stock traded down $0.23 on Friday, hitting $3.28. 17,377,375 shares of the stock traded hands, compared to its average volume of 18,984,933. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -65.49 and a beta of 1.29. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $4.74 and a two-hundred day simple moving average of $5.98. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released 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 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 fiscal year.

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.