Hussman Strategic Advisors Inc. Buys Shares of 147,000 Lumen Technologies, Inc. (NYSE:LUMN)

Hussman Strategic Advisors Inc. bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, Holdings Channel reports. The fund bought 147,000 shares of the technology company’s stock, valued at approximately $781,000.

A number of other large investors have also made changes to their positions in LUMN. Concord Wealth Partners grew its position in shares of Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $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 third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lumen Technologies in the third quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lumen Technologies in the third quarter valued at approximately $46,000. Finally, R Squared Ltd purchased a new position in Lumen Technologies in the fourth quarter worth approximately $48,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LUMN shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. TD Cowen lowered their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Citigroup increased their price objective on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $4.66.

Lumen Technologies Stock Down 3.8 %

NYSE:LUMN opened at $4.70 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The stock’s fifty day moving average is $5.38 and its two-hundred day moving average is $6.17. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -93.88 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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.