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

Man Group plc lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 28.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,745,445 shares of the technology company's stock after buying an additional 381,791 shares during the quarter. Man Group plc owned about 0.17% of Lumen Technologies worth $9,268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LUMN. Smartleaf Asset Management LLC raised its stake in Lumen Technologies by 173.3% in 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 raised its stake in Lumen Technologies by 3,825.7% in 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 acquired a new position in Lumen Technologies in the fourth quarter valued at about $48,000. Seeds Investor LLC acquired a new position in Lumen Technologies in the fourth quarter valued at about $57,000. Finally, HB Wealth Management LLC acquired a new position in Lumen Technologies in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Wall Street Analysts Forecast Growth

LUMN has been the subject of a number of analyst reports. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research note on Friday, February 21st. 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. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price on the stock in a research report on Monday, May 5th. Two research 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, the company presently has a consensus rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Price Performance

Lumen Technologies stock traded down $0.11 during midday trading on Friday, reaching $3.73. The company's stock had a trading volume of 10,269,915 shares, compared to its average volume of 19,393,349. The stock has a market cap of $3.83 billion, a PE ratio of -74.59 and a beta of 1.34. 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 50-day moving average price of $3.85 and a 200-day moving average price of $5.20. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.16. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) earnings per share. On average, 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.