Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 1,127.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 790,031 shares of the technology company's stock after acquiring an additional 725,681 shares during the quarter. Mackenzie Financial Corp owned approximately 0.08% of Lumen Technologies worth $4,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LUMN. Smartleaf Asset Management LLC boosted its stake in shares of Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after purchasing an additional 4,277 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after purchasing an additional 7,307 shares in the last quarter. R Squared Ltd bought a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $48,000. Quantinno Capital Management LP acquired a new stake in Lumen Technologies in the fourth quarter valued at approximately $54,000. Finally, Seeds Investor LLC acquired a new stake in Lumen Technologies in the fourth quarter valued at approximately $57,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LUMN. Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a research note on Friday, February 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Raymond James upgraded shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a research note on Monday, May 5th. 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 company's stock. According to MarketBeat.com, Lumen Technologies presently has a consensus rating of "Hold" and an average price target of $4.58.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN traded up $0.03 on Friday, hitting $3.93. 11,366,183 shares of the company were exchanged, compared to its average volume of 19,408,661. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The stock's 50 day moving average price is $3.76 and its 200 day moving average price is $5.03. 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 firm has a market capitalization of $4.03 billion, a P/E ratio of -78.58 and a beta of 1.34.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.16. The business had revenue of $3.18 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. Sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 EPS 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.