Caxton Associates LP Invests $513,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Caxton Associates LP acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 96,660 shares of the technology company's stock, valued at approximately $513,000.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after acquiring an additional 4,277 shares during the last quarter. R Squared Ltd bought a new position in Lumen Technologies during the fourth quarter worth about $48,000. Seeds Investor LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $57,000. HB Wealth Management LLC bought a new position in Lumen Technologies during the 4th quarter worth approximately $59,000. Finally, Marshall Wace LLP bought a new stake in Lumen Technologies in the fourth quarter valued at approximately $61,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a report on Friday, February 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective for the company in a research report on Monday. Finally, 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 report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Lumen Technologies currently has an average rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $4.28 on Wednesday. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -85.48 and a beta of 1.34. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The business has a 50-day moving average of $4.06 and a 200-day moving average of $5.44.

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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm earned ($0.04) EPS. The business's quarterly revenue was down 3.3% on a year-over-year basis. 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.

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