Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,408 shares of the technology company’s stock after purchasing an additional 5,317 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Lumen Technologies were worth $257,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company raised 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. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Two equities research 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 presently has a consensus rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $4.90 on Wednesday. The company’s fifty day simple moving average is $5.04 and its 200-day simple moving average is $6.09. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a market cap of $4.96 billion, a PE ratio of -97.90 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share 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, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

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.