263,860 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Acquired by Massar Capital Management LP

Massar Capital Management LP acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, Holdings Channel.com reports. The firm acquired 263,860 shares of the technology company’s stock, valued at approximately $1,401,000. Lumen Technologies accounts for approximately 1.6% of Massar Capital Management LP’s portfolio, making the stock its 22nd largest holding.

Several other large investors have also recently bought and sold shares of LUMN. Stifel Financial Corp raised its position in shares of Lumen Technologies by 34.8% during the 4th quarter. Stifel Financial Corp now owns 166,335 shares of the technology company’s stock worth $883,000 after acquiring an additional 42,950 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Lumen Technologies by 25.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 283,069 shares of the technology company’s stock valued at $1,503,000 after buying an additional 57,900 shares in the last quarter. MetLife Investment Management LLC raised its stake in Lumen Technologies by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 609,620 shares of the technology company’s stock worth $3,237,000 after acquiring an additional 40,065 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Lumen Technologies during the fourth quarter worth about $1,730,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock valued at $52,111,000 after purchasing an additional 7,717,596 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

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

Lumen Technologies Stock Down 6.1 %

LUMN opened at $3.09 on Tuesday. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -61.79 and a beta of 1.29. 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. The business’s fifty day moving average is $4.29 and its two-hundred day moving average is $5.64.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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%. Analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies 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.