Quantbot Technologies LP Acquires 468,537 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Quantbot Technologies LP lifted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 454.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,725 shares of the technology company’s stock after buying an additional 468,537 shares during the quarter. Quantbot Technologies LP’s holdings in Lumen Technologies were worth $3,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after buying an additional 383,693 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Lumen Technologies in the fourth quarter worth about $45,089,000. Allianz Asset Management GmbH raised its stake in Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after purchasing an additional 1,710,373 shares in the last quarter. Principal Financial Group Inc. raised its stake in Lumen Technologies by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock valued at $26,133,000 after purchasing an additional 128,172 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Lumen Technologies by 23.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock valued at $21,399,000 after purchasing an additional 764,523 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Up 0.3 %

Shares of NYSE LUMN opened at $4.94 on Friday. Lumen Technologies, Inc. has a one year low of $0.97 and a one 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 firm’s 50 day simple moving average is $5.01 and its two-hundred day simple moving average is $6.08. The stock has a market capitalization of $5.00 billion, a P/E ratio of -98.68 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a research note on Friday, February 21st. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the company 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 one has assigned a buy rating to the company’s stock. According to MarketBeat, Lumen Technologies has a consensus 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.