Voleon Capital Management LP Buys New Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Voleon Capital Management LP purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 120,922 shares of the technology company's stock, valued at approximately $642,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in 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 acquiring an additional 4,277 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Lumen Technologies during the fourth quarter worth about $48,000. Seeds Investor LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at about $57,000. HB Wealth Management LLC purchased a new position in Lumen Technologies during the 4th quarter worth approximately $59,000. Finally, Marshall Wace LLP acquired a new position in Lumen Technologies during the fourth quarter worth approximately $61,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $3.55 on Friday. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The company has a 50-day moving average price of $4.09 and a 200 day moving average price of $5.49. The company has a market cap of $3.63 billion, a P/E ratio of -70.89 and a beta of 1.29. 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 posted its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. The firm 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%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) earnings per share. Research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current 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.

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