Nomura Holdings Inc. Purchases 137,887 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Nomura Holdings Inc. grew its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 606.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,625 shares of the technology company's stock after acquiring an additional 137,887 shares during the quarter. Nomura Holdings Inc.'s holdings in Lumen Technologies were worth $853,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings 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 worth $36,000 after acquiring an additional 4,277 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of 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 worth $39,000 after buying an additional 7,307 shares in the last quarter. R Squared Ltd bought a new position in shares of Lumen Technologies in the fourth quarter worth approximately $48,000. Seeds Investor LLC bought a new position in shares of Lumen Technologies in the fourth quarter worth approximately $57,000. Finally, HB Wealth Management LLC bought a new position in shares of Lumen Technologies in the fourth quarter worth approximately $59,000. 66.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LUMN has been the topic of several analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Raymond James raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a report on Monday, May 5th. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a report on Friday, February 21st. Finally, Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two 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 stock. Based on data from MarketBeat.com, Lumen Technologies presently has an average rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Stock Performance

LUMN stock traded up $0.03 during trading on Thursday, reaching $3.84. The stock had a trading volume of 30,181,345 shares, compared to its average volume of 19,327,741. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The stock's 50 day moving average is $3.87 and its two-hundred day moving average is $5.25. 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 cap of $3.94 billion, a PE ratio of -76.78 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. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company earned ($0.04) earnings per share. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies 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.