Brevan Howard Capital Management LP Takes $1.53 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Brevan Howard Capital Management LP bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 288,785 shares of the technology company's stock, valued at approximately $1,533,000.

Several other institutional investors and hedge funds have also modified their holdings of LUMN. Empowered Funds LLC bought a new stake in shares of Lumen Technologies during the 4th quarter valued at $1,139,000. Strategic Financial Concepts LLC lifted its position in shares of Lumen Technologies by 430.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock valued at $952,000 after acquiring an additional 145,542 shares in the last quarter. Polianta Ltd bought a new position in shares of Lumen Technologies in the fourth quarter worth about $692,000. Mariner Investment Group LLC bought a new position in shares of Lumen Technologies in the fourth quarter worth about $531,000. Finally, Assenagon Asset Management S.A. grew its position in shares of 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 purchasing an additional 73,841 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a report on Friday, February 21st. Finally, Raymond James raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective for the company in a report on Monday. Two equities 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Trading Up 5.5 %

Shares of NYSE:LUMN traded up $0.23 during trading on Friday, reaching $4.39. The company's stock had a trading volume of 10,431,366 shares, compared to its average volume of 19,195,009. The stock has a market capitalization of $4.50 billion, a PE ratio of -87.78 and a beta of 1.34. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. 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 firm's 50 day simple moving average is $4.03 and its two-hundred day simple moving average is $5.40.

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

About Lumen Technologies

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.