Blueshift Asset Management LLC Takes $148,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Blueshift Asset Management LLC acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 27,950 shares of the technology company’s stock, valued at approximately $148,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Xponance Inc. increased its position in shares of Lumen Technologies by 11.1% during the fourth quarter. Xponance Inc. now owns 76,464 shares of the technology company’s stock worth $406,000 after purchasing an additional 7,646 shares in the last quarter. Counterpoint Mutual Funds LLC increased its position in Lumen Technologies by 12.3% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 48,408 shares of the technology company’s stock valued at $257,000 after buying an additional 5,317 shares in the last quarter. Cibc World Markets Corp purchased a new stake in Lumen Technologies in the fourth quarter valued at about $503,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Lumen Technologies by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after acquiring an additional 2,844 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd grew its stake in shares of Lumen Technologies by 2,281.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 100,000 shares of the technology company’s stock worth $531,000 after acquiring an additional 95,800 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

NYSE:LUMN opened at $4.94 on Friday. The firm’s fifty day moving average is $5.01 and its two-hundred day moving average is $6.08. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -98.68 and a beta of 1.28. 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 one year low of $0.97 and a one year high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented 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 reissued a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.