Focus Partners Wealth Acquires 157,439 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Focus Partners Wealth lifted its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 922.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,505 shares of the technology company's stock after purchasing an additional 157,439 shares during the period. Focus Partners Wealth's holdings in Lumen Technologies were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LUMN. Ethic Inc. acquired a new position in Lumen Technologies during the fourth quarter worth $120,000. Ensign Peak Advisors Inc purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at about $3,082,000. Deutsche Bank AG increased its position in Lumen Technologies by 182.3% during the fourth quarter. Deutsche Bank AG now owns 1,589,213 shares of the technology company's stock worth $8,439,000 after purchasing an additional 1,026,248 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in Lumen Technologies during the fourth quarter worth about $1,533,000. Finally, Capstone Investment Advisors LLC acquired a new position in Lumen Technologies in the 4th quarter valued at about $320,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LUMN. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and cut their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated 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 raised 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. Finally, Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Stock Down 2.9%

Shares of Lumen Technologies stock traded down $0.11 on Friday, hitting $3.73. 10,269,915 shares of the company traded hands, compared to its average volume of 19,393,349. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month 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. The company has a market cap of $3.83 billion, a PE ratio of -74.59 and a beta of 1.34. The company has a 50-day moving average price of $3.85 and a 200 day moving average price of $5.20.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the company posted ($0.04) earnings per share. Lumen Technologies's revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts predict 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.