Lonestar Capital Management LLC Acquires Shares of 400,000 Lumen Technologies, Inc. (NYSE:LUMN)

Lonestar Capital Management LLC acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 400,000 shares of the technology company's stock, valued at approximately $2,124,000. Lumen Technologies makes up approximately 0.8% of Lonestar Capital Management LLC's investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Lumen Technologies during the 4th quarter valued at approximately $63,638,000. Hennessy Advisors Inc. bought a new stake in Lumen Technologies during the 4th quarter worth $45,089,000. Dimensional Fund Advisors LP increased 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 worth $52,111,000 after purchasing an additional 7,717,596 shares in the last quarter. Renaissance Technologies LLC raised its position in Lumen Technologies by 76.3% in the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock valued at $61,936,000 after purchasing an additional 5,049,709 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Lumen Technologies during the fourth quarter valued at about $12,930,000. Institutional investors own 66.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LUMN. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price on the stock in a report on Friday, February 21st. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Lumen Technologies has a consensus rating of "Hold" and a consensus price target of $4.59.

Lumen Technologies Stock Up 0.1 %

Shares of NYSE LUMN traded up $0.01 during trading on Thursday, hitting $3.55. 12,969,331 shares of the company traded hands, compared to its average volume of 19,140,212. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -70.89 and a beta of 1.29. The business's fifty day moving average is $4.10 and its 200 day moving average is $5.51. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.12. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company earned ($0.04) EPS. Equities research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal 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.