103,351 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Purchased by Sherbrooke Park Advisers LLC

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

A number of other large investors have also modified their holdings of LUMN. Norges Bank purchased a new stake in shares of Lumen Technologies during the fourth quarter worth about $63,638,000. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies during the 4th quarter worth about $45,089,000. Dimensional Fund Advisors LP lifted its position in Lumen Technologies by 368.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after acquiring an additional 7,717,596 shares during the period. Renaissance Technologies LLC lifted its position in Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock worth $61,936,000 after acquiring an additional 5,049,709 shares during the period. Finally, Millennium Management LLC lifted its position in Lumen Technologies by 474.8% during the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock worth $30,503,000 after acquiring an additional 4,745,040 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.

Analyst Upgrades and Downgrades

LUMN has been the topic of a number of recent research reports. 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 research report on Wednesday, February 26th. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a report on Friday, February 21st. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Raymond James raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $4.58.

Lumen Technologies Stock Performance

Shares of NYSE LUMN traded up $0.04 during midday trading on Thursday, reaching $3.85. 20,847,889 shares of the stock were exchanged, compared to its average volume of 12,588,975. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -76.88 and a beta of 1.34. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The firm has a 50-day simple moving average of $3.89 and a two-hundred day simple moving average of $5.27. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

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 analysts' consensus estimates of ($0.29) by $0.16. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Lumen Technologies's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) earnings per share. As a group, analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS 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.