Brevan Howard Capital Management LP Buys Shares of 288,785 Lumen Technologies, Inc. (NYSE:LUMN)

Brevan Howard Capital Management LP bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 288,785 shares of the technology company's stock, valued at approximately $1,533,000.

A number of other large investors have also recently made changes to their positions in the stock. Capstone Investment Advisors LLC purchased a new position in shares of Lumen Technologies during the 4th quarter valued at about $320,000. Caxton Associates LP purchased a new position in Lumen Technologies during the 4th quarter valued at $513,000. BNP Paribas Financial Markets bought a new position in Lumen Technologies in the 4th quarter worth $953,000. Algert Global LLC boosted its stake in shares of Lumen Technologies by 171.5% during the 4th quarter. Algert Global LLC now owns 796,988 shares of the technology company's stock valued at $4,232,000 after purchasing an additional 503,458 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its position in shares of Lumen Technologies by 15.3% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 134,476 shares of the technology company's stock valued at $714,000 after buying an additional 17,869 shares during the period. 66.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LUMN shares. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective for the company in a report on Friday, February 21st. Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price on the stock in a research note on Monday, May 5th. Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.58.

Lumen Technologies Stock Performance

Shares of LUMN stock traded up $0.03 during trading hours on Monday, reaching $4.42. 3,992,510 shares of the company traded hands, compared to its average volume of 19,184,415. The firm has a 50-day moving average price of $4.03 and a 200 day moving average price of $5.39. The company has a market cap of $4.53 billion, a P/E ratio of -88.28 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 debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (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 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 business's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Lumen Technologies 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.