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

Point72 Asia Singapore Pte. Ltd. increased 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 filing with the SEC. The institutional investor owned 82,281 shares of the technology company's stock after purchasing an additional 77,142 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Lumen Technologies were worth $437,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LUMN. Smartleaf Asset Management LLC raised its position in Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after buying an additional 4,277 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after purchasing an additional 7,307 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Lumen Technologies in the fourth quarter valued at approximately $48,000. Quantinno Capital Management LP acquired a new position in Lumen Technologies during the fourth quarter worth $54,000. Finally, Seeds Investor LLC bought a new position in Lumen Technologies in the fourth quarter valued at $57,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LUMN. 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 research note on Monday, May 5th. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research report on Friday, February 21st. Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price target for the stock 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 issued a $4.25 target price 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 issued a buy rating to the stock. According to MarketBeat.com, Lumen Technologies currently has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Price Performance

NYSE:LUMN opened at $4.18 on Friday. The company has a market cap of $4.29 billion, a P/E ratio of -83.58 and a beta of 1.34. The firm's fifty day moving average price is $3.96 and its two-hundred day moving average price is $5.35. Lumen Technologies, Inc. has a one year low of $0.97 and a one year 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 announced its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Lumen Technologies's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. Equities analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current 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.

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