Point72 Asia Singapore Pte. Ltd. Purchases 77,142 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 1,501.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,281 shares of the technology company's stock after acquiring an additional 77,142 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Lumen Technologies were worth $437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after purchasing an additional 4,277 shares during the last quarter. Lazard Asset Management LLC grew its position 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 valued at $39,000 after acquiring an additional 7,307 shares during the last quarter. R Squared Ltd purchased a new position in shares of Lumen Technologies during the fourth quarter worth approximately $48,000. Quantinno Capital Management LP bought a new stake in shares of Lumen Technologies in the 4th quarter worth approximately $54,000. Finally, Seeds Investor LLC purchased a new stake in shares of Lumen Technologies in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Down 4.4%

LUMN stock traded down $0.18 on Wednesday, reaching $3.82. The company's stock had a trading volume of 3,356,210 shares, compared to its average volume of 19,148,054. The firm has a market cap of $3.91 billion, a PE ratio of -76.48 and a beta of 1.34. The business has a fifty day simple moving average of $3.91 and a two-hundred day simple moving average of $5.28. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. 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 (NYSE:LUMN - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the company posted ($0.04) EPS. The company's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on LUMN. Raymond James upgraded shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target for the company in a research report on Monday, May 5th. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research note on Friday, February 21st. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $4.58.

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.