Jefferies Financial Group Inc. purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,000 shares of the technology company's stock, valued at approximately $398,000.
Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after buying an additional 4,277 shares during the last quarter. R Squared Ltd bought a new position in shares of Lumen Technologies during the fourth quarter valued at about $48,000. Seeds Investor LLC purchased a new position in shares of Lumen Technologies in the fourth quarter worth about $57,000. HB Wealth Management LLC bought a new stake in Lumen Technologies in the fourth quarter valued at approximately $59,000. Finally, Marshall Wace LLP purchased a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $61,000. 66.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on LUMN. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Wells Fargo & Company raised 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. Royal Bank of Canada reaffirmed 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, Raymond James raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Lumen Technologies has a consensus rating of "Hold" and an average price target of $4.58.
View Our Latest Analysis on Lumen Technologies
Lumen Technologies Stock Performance
NYSE:LUMN traded up $0.04 during trading hours on Thursday, reaching $3.85. The company had a trading volume of 16,097,430 shares, compared to its average volume of 19,230,627. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -77.08 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The firm's 50 day moving average price is $3.89 and its 200-day moving average price is $5.27.
Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. On average, analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.
Lumen Technologies Company Profile
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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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