Virtu Financial LLC raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 102.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,590 shares of the technology company's stock after purchasing an additional 68,028 shares during the quarter. Virtu Financial LLC's holdings in Lumen Technologies were worth $715,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new stake in shares of Lumen Technologies during the 4th quarter valued at $45,089,000. Allianz Asset Management GmbH raised its position in shares of Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock worth $41,366,000 after acquiring an additional 1,710,373 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 valued at $21,399,000 after acquiring an additional 764,523 shares during the period. Sequoia Financial Advisors LLC grew its stake in Lumen Technologies by 46.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company's stock valued at $11,055,000 after acquiring an additional 664,823 shares during the period. Finally, Quantbot Technologies LP raised its holdings in Lumen Technologies by 454.1% during the fourth quarter. Quantbot Technologies LP now owns 571,725 shares of the technology company's stock worth $3,036,000 after buying an additional 468,537 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on LUMN shares. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price on the stock in a research 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 stock 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 set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.59.
Get Our Latest Stock Analysis on Lumen Technologies
Lumen Technologies Stock Performance
Lumen Technologies stock traded down $0.16 during mid-day trading on Friday, reaching $3.94. 15,867,606 shares of the company traded hands, compared to its average volume of 18,889,284. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -78.84 and a beta of 1.28. 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's fifty day moving average is $4.92 and its two-hundred day moving average is $6.05. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.
Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) 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 expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.
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.
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