Capstone Investment Advisors LLC Takes $320,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Capstone Investment Advisors LLC 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. The firm purchased 60,290 shares of the technology company's stock, valued at approximately $320,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its stake in shares of Lumen Technologies by 7.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock valued at $182,000 after acquiring an additional 2,457 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Lumen Technologies by 20.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock valued at $78,000 after purchasing an additional 2,489 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock worth $222,000 after buying an additional 2,657 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock valued at $111,000 after buying an additional 2,844 shares during the period. Finally, Bank of Nova Scotia raised its holdings in shares of Lumen Technologies by 28.6% in the fourth quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company's stock valued at $73,000 after acquiring an additional 3,069 shares in the last quarter. Institutional investors own 66.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LUMN shares. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a report on Monday. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, 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 research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Lumen Technologies has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $4.28 on Wednesday. The company has a 50 day moving average price of $4.06 and a 200 day moving average price of $5.44. The firm has a market capitalization of $4.38 billion, a P/E ratio of -85.48 and a beta of 1.34. The company has a quick ratio of 1.20, a current ratio of 1.21 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.

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

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