Deutsche Bank AG Raises Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Deutsche Bank AG increased its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 182.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,589,213 shares of the technology company's stock after buying an additional 1,026,248 shares during the quarter. Deutsche Bank AG owned about 0.16% of Lumen Technologies worth $8,439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LUMN. Empowered Funds LLC bought a new stake in shares of Lumen Technologies in the 4th quarter worth about $1,139,000. Strategic Financial Concepts LLC lifted its stake in Lumen Technologies by 430.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after purchasing an additional 145,542 shares during the last quarter. Polianta Ltd purchased a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $692,000. Mariner Investment Group LLC bought a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $531,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Lumen Technologies by 8.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company's stock worth $4,967,000 after buying an additional 73,841 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LUMN has been the topic of several research analyst reports. Raymond James raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective on the stock in a research report on Monday, May 5th. 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 research report on Friday, February 21st. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and lowered 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 assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Stock Performance

Shares of LUMN stock traded up $0.07 during mid-day trading on Thursday, reaching $3.88. The stock had a trading volume of 13,998,223 shares, compared to its average volume of 19,225,548. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -77.50 and a beta of 1.34. The business's fifty day moving average is $3.89 and its 200-day moving average is $5.27.

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