Jefferies Financial Group Inc. Takes $398,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Jefferies Financial Group Inc. purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,000 shares of the technology company's stock, valued at approximately $398,000.

A number of other hedge funds have also recently bought and sold shares of the business. Mackenzie Financial Corp increased its position in shares of Lumen Technologies by 1,127.7% in the 4th quarter. Mackenzie Financial Corp now owns 790,031 shares of the technology company's stock worth $4,195,000 after purchasing an additional 725,681 shares during the last quarter. Forum Financial Management LP increased its holdings in Lumen Technologies by 72.5% in the fourth quarter. Forum Financial Management LP now owns 27,552 shares of the technology company's stock valued at $146,000 after buying an additional 11,581 shares during the last quarter. Breakthru Advisory Services LLC acquired a new stake in Lumen Technologies during the fourth quarter valued at approximately $107,000. Alpine Global Management LLC bought a new position in Lumen Technologies during the 4th quarter worth approximately $166,000. Finally, DCM Advisors LLC grew its position in shares of Lumen Technologies by 45.7% in the 4th quarter. DCM Advisors LLC now owns 41,672 shares of the technology company's stock worth $221,000 after acquiring an additional 13,072 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Price Performance

NYSE:LUMN traded down $0.19 during mid-day trading on Wednesday, reaching $3.92. 6,150,756 shares of the stock were exchanged, compared to its average volume of 19,392,975. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The business has a fifty day moving average price of $3.75 and a 200 day moving average price of $4.94. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The firm has a market capitalization of $4.02 billion, a PE ratio of -78.38 and a beta of 1.34.

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 (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 analyst estimates of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. Research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Raymond James raised shares of 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, May 5th. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their price target for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised 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. Two equities 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.58.

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.