Algert Global LLC Purchases 503,458 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Algert Global LLC lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 171.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 796,988 shares of the technology company's stock after acquiring an additional 503,458 shares during the quarter. Algert Global LLC owned approximately 0.08% of Lumen Technologies worth $4,232,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in shares of Lumen Technologies by 66.8% during the third quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company's stock worth $3,982,000 after purchasing an additional 224,506 shares during the period. Diversified Trust Co acquired a new position in shares of Lumen Technologies in the fourth quarter valued at about $482,000. Assenagon Asset Management S.A. increased its position in Lumen Technologies by 8.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company's stock worth $4,967,000 after acquiring an additional 73,841 shares during the period. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter worth about $45,089,000. Finally, Merit Financial Group LLC bought a new stake in Lumen Technologies in the 4th quarter valued at about $111,000. Institutional investors own 66.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LUMN. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research report on Friday, February 21st. Raymond James raised 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 reiterated a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Lumen Technologies presently has an average rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Trading Up 1.7%

Shares of NYSE LUMN traded up $0.08 during trading on Monday, reaching $4.47. The company had a trading volume of 2,880,177 shares, compared to its average volume of 19,181,107. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The stock has a market cap of $4.58 billion, a P/E ratio of -88.68 and a beta of 1.34. The company's fifty day moving average price is $4.03 and its 200-day moving average price is $5.39.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share 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.