Two Sigma Advisers LP Has $39.85 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Two Sigma Advisers LP trimmed its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,505,114 shares of the technology company's stock after selling 1,315,100 shares during the quarter. Two Sigma Advisers LP owned 0.74% of Lumen Technologies worth $39,852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LUMN. Norges Bank acquired a new position in Lumen Technologies in the 4th quarter valued at $63,638,000. Dimensional Fund Advisors LP grew its holdings in Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock valued at $52,111,000 after buying an additional 7,717,596 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Lumen Technologies by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock valued at $61,936,000 after buying an additional 5,049,709 shares in the last quarter. Millennium Management LLC grew its holdings in Lumen Technologies by 474.8% in the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock valued at $30,503,000 after buying an additional 4,745,040 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Lumen Technologies in the 4th quarter valued at $12,930,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Shares of NYSE:LUMN traded down $0.11 during trading on Friday, reaching $3.73. 10,269,915 shares of the company traded hands, compared to its average volume of 19,338,596. The company's 50 day moving average is $3.85 and its two-hundred day moving average is $5.22. The firm has a market capitalization of $3.83 billion, a PE ratio of -74.59 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, 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 announced its quarterly earnings data 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. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned ($0.04) EPS. Lumen Technologies's revenue for the quarter was down 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective on the stock in a report on Friday, February 21st. Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reiterated a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lumen Technologies has a consensus rating of "Hold" and a consensus target price of $4.58.

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.