Lumen Technologies, Inc. (NYSE:LUMN) Stake Reduced by FORA Capital LLC

FORA Capital LLC decreased its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 32.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 276,509 shares of the technology company's stock after selling 133,180 shares during the quarter. FORA Capital LLC's holdings in Lumen Technologies were worth $1,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LUMN. O Shaughnessy Asset Management LLC raised its position in Lumen Technologies by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after acquiring an additional 2,457 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock worth $78,000 after purchasing an additional 2,489 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Lumen Technologies by 6.8% in the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock worth $222,000 after purchasing an additional 2,657 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock valued at $111,000 after acquiring an additional 2,844 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in Lumen Technologies by 28.6% during the fourth quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company's stock valued at $73,000 after acquiring an additional 3,069 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

Lumen Technologies Trading Up 0.1%

Shares of Lumen Technologies stock traded up $0.01 during mid-day trading on Monday, hitting $4.40. 10,101,307 shares of the stock were exchanged, compared to its average volume of 19,208,198. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of -87.88 and a beta of 1.34. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. 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 company has a 50-day simple moving average of $4.01 and a 200 day simple moving average of $5.38.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 analyst estimates of $3.12 billion. During the same quarter last year, the firm posted ($0.04) earnings per share. Lumen Technologies's revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS 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.