Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd has significantly increased its stake in Lumen Technologies, acquiring 213,388 shares to bring its total holdings to 225,588 shares, valued at approximately $884,000.
• Institutional investors collectively hold 66.19% of Lumen Technologies' stock, with recent notable increases from Lazard Asset Management and others during early 2023.
• Analysts have recently upgraded Lumen Technologies' stock rating to "hold," with a consensus target price set at $4.64 amidst a projected EPS of -0.87 for the current year.

XTX Topco Ltd boosted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 1,749.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 225,588 shares of the technology company's stock after purchasing an additional 213,388 shares during the period. XTX Topco Ltd's holdings in Lumen Technologies were worth $884,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in 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 worth $39,000 after purchasing an additional 7,307 shares during the period. Conning Inc. bought a new position in shares of Lumen Technologies during the 1st quarter worth approximately $39,000. Quantinno Capital Management LP acquired a new stake in Lumen Technologies during the 4th quarter valued at $54,000. OneDigital Investment Advisors LLC bought a new position in shares of Lumen Technologies in the first quarter valued at about $41,000. Finally, Meeder Advisory Services Inc. acquired a new position in Lumen Technologies in the 1st quarter valued at about $41,000. 66.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen upgraded Lumen Technologies from a "sell" rating to a "hold" rating in a research report on Sunday. Raymond James Financial raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, BNP Paribas raised Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.64.

Lumen Technologies Price Performance

Shares of NYSE LUMN traded down $0.06 during midday trading on Thursday, reaching $3.71. The stock had a trading volume of 6,753,314 shares, compared to its average volume of 12,191,674. The stock has a 50-day moving average of $4.26 and a 200-day moving average of $4.31. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $10.33. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of -3.15 and a beta of 1.43. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.21. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.11 billion. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The business's revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.13) EPS. As a group, research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal 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.