Sherbrooke Park Advisers LLC Purchases New Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Sherbrooke Park Advisers LLC bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,351 shares of the technology company's stock, valued at approximately $549,000.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Lumen Technologies by 173.3% in the fourth 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 in the last quarter. Lazard Asset Management LLC lifted 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 in the last quarter. R Squared Ltd purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at $48,000. Quantinno Capital Management LP acquired a new position in shares of Lumen Technologies in the fourth quarter worth $54,000. Finally, Seeds Investor LLC acquired a new position in shares of Lumen Technologies in the fourth quarter worth $57,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Performance

Shares of NYSE LUMN traded up $0.01 during mid-day trading on Tuesday, hitting $3.99. The company had a trading volume of 8,693,600 shares, compared to its average volume of 19,210,016. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The business's 50-day simple moving average is $3.93 and its 200-day simple moving average is $5.29. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The firm has a market cap of $4.09 billion, a P/E ratio of -79.78 and a beta of 1.34.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued 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 ($0.29) by $0.16. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. As a group, analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of 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. Raymond James raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a research note on Monday, May 5th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two research 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, Lumen Technologies has a consensus rating of "Hold" and an average price target 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.