Polianta Ltd Acquires Shares of 130,400 Lumen Technologies, Inc. (NYSE:LUMN)

Polianta Ltd bought a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 130,400 shares of the technology company’s stock, valued at approximately $692,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LUMN. Concord Wealth Partners raised its holdings in Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Lumen Technologies in the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lumen Technologies in the 3rd quarter worth about $36,000. Allspring Global Investments Holdings LLC purchased a new position in Lumen Technologies during the 3rd quarter valued at about $46,000. Finally, GAMMA Investing LLC grew its holdings in Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after purchasing an additional 6,504 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Up 2.1 %

NYSE LUMN opened at $5.65 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The stock has a 50-day moving average of $6.58 and a 200 day moving average of $5.62. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

LUMN has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Citigroup raised their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Finally, The Goldman Sachs Group upped their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.66.

Lumen Technologies Company 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.