Connor Clark & Lunn Investment Management Ltd. Has $21.40 Million Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 23.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,029,938 shares of the technology company’s stock after purchasing an additional 764,523 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Lumen Technologies were worth $21,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LUMN. US Bancorp DE boosted its stake in Lumen Technologies by 18.6% in the third quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after acquiring an additional 2,350 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after acquiring an additional 2,489 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Lumen Technologies by 6.8% in the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after acquiring an additional 2,657 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Lumen Technologies by 8.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after acquiring an additional 3,109 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its stake in shares of Lumen Technologies by 18.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 24,308 shares of the technology company’s stock valued at $173,000 after buying an additional 3,756 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

NYSE LUMN opened at $4.69 on Friday. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 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. The stock has a market capitalization of $4.75 billion, a PE ratio of -93.68 and a beta of 1.28. The company’s 50 day simple moving average is $5.10 and its two-hundred day simple moving average is $6.10.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LUMN. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price target for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company upgraded 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and an average price target of $4.59.

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.