DRW Securities LLC Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

DRW Securities LLC bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,900 shares of the technology company’s stock, valued at approximately $68,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after purchasing an additional 4,277 shares during the period. R Squared Ltd acquired a new stake in shares of Lumen Technologies during the 4th quarter worth approximately $48,000. HB Wealth Management LLC bought a new stake in shares of Lumen Technologies during the fourth quarter worth approximately $59,000. Y Intercept Hong Kong Ltd acquired a new position in Lumen Technologies in the third quarter valued at approximately $86,000. Finally, M&T Bank Corp bought a new position in Lumen Technologies in the fourth quarter valued at approximately $66,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LUMN. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a research note on Friday, February 21st. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $4.59.

Lumen Technologies Trading Down 2.4 %

NYSE LUMN opened at $3.46 on Friday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The stock’s 50-day moving average is $4.48 and its 200-day moving average is $5.80. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The firm has a market cap of $3.54 billion, a P/E ratio of -69.09 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN) last announced 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%. Sell-side 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.