Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP boosted its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 746.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,639 shares of the technology company’s stock after acquiring an additional 94,922 shares during the period. ExodusPoint Capital Management LP’s holdings in Lumen Technologies were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its stake in shares of Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock valued at $182,000 after purchasing an additional 2,457 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after buying an additional 2,489 shares during the period. Avior Wealth Management LLC lifted its position in Lumen Technologies by 6.8% in the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after buying an additional 2,657 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in shares of Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after acquiring an additional 3,109 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LUMN has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research report on Friday, February 21st. Citigroup upgraded 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. 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 company’s stock. Based on data from MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $3.46 on Friday. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The company has a fifty day simple moving average of $4.48 and a two-hundred day simple moving average of $5.80. 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 company has a market cap of $3.54 billion, a price-to-earnings ratio of -69.09 and a beta of 1.29.

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

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.