Virtu Financial LLC Raises Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Virtu Financial LLC increased its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 102.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,590 shares of the technology company's stock after acquiring an additional 68,028 shares during the quarter. Virtu Financial LLC's holdings in Lumen Technologies were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in Lumen Technologies in the fourth quarter worth $1,139,000. Strategic Financial Concepts LLC raised its position in shares of Lumen Technologies by 430.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after purchasing an additional 145,542 shares during the last quarter. Polianta Ltd purchased a new stake in Lumen Technologies during the 4th quarter valued at about $692,000. Mariner Investment Group LLC purchased a new position in Lumen Technologies in the fourth quarter worth about $531,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Lumen Technologies during the third quarter valued at $733,000. Institutional investors own 66.19% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports 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 note 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 stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $4.59.

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Lumen Technologies Trading Down 9.9 %

Shares of NYSE LUMN traded down $0.48 during trading hours on Tuesday, hitting $4.38. 44,603,187 shares of the company traded hands, compared to its average volume of 18,337,033. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -87.58 and a beta of 1.28. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company's 50 day moving average price is $5.00 and its 200 day moving average price is $6.08.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate 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.