Jefferies Financial Group Inc. Invests $398,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Jefferies Financial Group Inc. bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,000 shares of the technology company's stock, valued at approximately $398,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Northern Trust Corp lifted its stake in shares of Lumen Technologies by 8.6% during the 4th quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company's stock worth $65,602,000 after purchasing an additional 982,206 shares during the last quarter. Norges Bank purchased a new stake in shares of Lumen Technologies during the fourth quarter valued at about $63,638,000. Renaissance Technologies LLC boosted its holdings in shares of Lumen Technologies by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock valued at $61,936,000 after buying an additional 5,049,709 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after buying an additional 7,717,596 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of Lumen Technologies during the 4th quarter worth approximately $45,089,000. Institutional investors own 66.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target for the company in a research note on Monday, May 5th. 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. Finally, Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Price Performance

NYSE LUMN traded up $0.01 during trading hours on Tuesday, reaching $3.99. The company's stock had a trading volume of 8,693,600 shares, compared to its average volume of 19,157,685. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -79.78 and a beta of 1.34. The company's 50-day moving average is $3.93 and its two-hundred day moving average is $5.29. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business's revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) EPS. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies Company 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.