Dark Forest Capital Management LP Grows Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Dark Forest Capital Management LP raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 1,545.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,445 shares of the technology company's stock after buying an additional 163,845 shares during the quarter. Dark Forest Capital Management LP's holdings in Lumen Technologies were worth $926,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quantessence Capital LLC acquired a new position in Lumen Technologies during the fourth quarter worth $307,000. Alpine Global Management LLC acquired a new stake in Lumen Technologies during the fourth quarter worth about $166,000. Massar Capital Management LP purchased a new position in Lumen Technologies during the fourth quarter worth about $1,401,000. Stifel Financial Corp grew its stake in shares of Lumen Technologies by 34.8% in the 4th quarter. Stifel Financial Corp now owns 166,335 shares of the technology company's stock valued at $883,000 after buying an additional 42,950 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in Lumen Technologies by 25.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 283,069 shares of the technology company's stock worth $1,503,000 after acquiring an additional 57,900 shares during the period. Institutional investors and hedge funds own 66.19% of the company's stock.

Wall Street Analyst Weigh In

LUMN has been the subject of a number of research analyst reports. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $8.00 to $6.50 in a 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 for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Lumen Technologies has an average rating of "Hold" and an average target price of $4.59.

Lumen Technologies Stock Down 1.8 %

NYSE LUMN traded down $0.07 on Tuesday, hitting $3.52. 3,197,818 shares of the stock were exchanged, compared to its average volume of 19,129,066. The company has a market cap of $3.60 billion, a PE ratio of -70.29 and a beta of 1.29. The company has a 50-day moving average price of $4.15 and a 200-day moving average price of $5.54. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week 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.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal 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.