Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP grew its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 746.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,639 shares of the technology company's stock after buying an additional 94,922 shares during the period. ExodusPoint Capital Management LP's holdings in Lumen Technologies were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LUMN. Smartleaf Asset Management LLC grew its stake in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after buying an additional 4,277 shares during the last quarter. R Squared Ltd purchased a new stake in Lumen Technologies in the 4th quarter valued at $48,000. HB Wealth Management LLC acquired a new position in Lumen Technologies in the fourth quarter valued at $59,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Lumen Technologies during the third quarter worth about $86,000. Finally, M&T Bank Corp acquired a new position in Lumen Technologies in the 4th quarter valued at about $66,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Trading Up 0.2 %

LUMN stock traded up $0.01 on Thursday, hitting $3.29. 2,482,579 shares of the company were exchanged, compared to its average volume of 19,071,469. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -65.67 and a beta of 1.29. The business's fifty day moving average is $4.38 and its two-hundred day moving average is $5.73. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company raised 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. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.59.

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.