Quantbot Technologies LP Has $3.04 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Quantbot Technologies LP lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 454.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 571,725 shares of the technology company’s stock after acquiring an additional 468,537 shares during the period. Quantbot Technologies LP owned 0.06% of Lumen Technologies worth $3,036,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LUMN. Los Angeles Capital Management LLC raised its holdings in Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock worth $78,000 after buying an additional 2,489 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Lumen Technologies by 6.8% during the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock worth $222,000 after buying an additional 2,657 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock worth $207,000 after buying an additional 3,109 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in Lumen Technologies by 14.8% during the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company’s stock worth $160,000 after buying an additional 3,868 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Price Performance

LUMN opened at $4.94 on Friday. The firm has a market cap of $5.00 billion, a P/E ratio of -98.68 and a beta of 1.28. The firm has a 50-day moving average of $5.01 and a 200 day moving average of $6.08. 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, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LUMN shares. Wells Fargo & Company upgraded 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 research note on Friday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.59.

About Lumen Technologies

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.