Man Group plc Acquires 381,791 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Man Group plc raised its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,745,445 shares of the technology company's stock after purchasing an additional 381,791 shares during the period. Man Group plc owned 0.17% of Lumen Technologies worth $9,268,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

LUMN has been the subject of several research analyst reports. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research note 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 on the stock in a research report on Monday, May 5th. Finally, Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Stock Down 1.8%

Shares of NYSE:LUMN opened at $4.11 on Monday. The business's 50 day moving average is $3.95 and its 200 day moving average is $5.31. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -82.08 and a beta of 1.34. 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 posted 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 for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm earned ($0.04) EPS. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.

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