Algert Global LLC Increases Position in Lumen Technologies, Inc. (NYSE:LUMN)

Algert Global LLC increased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 171.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 796,988 shares of the technology company’s stock after purchasing an additional 503,458 shares during the quarter. Algert Global LLC’s holdings in Lumen Technologies were worth $4,232,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after buying an additional 4,277 shares in the last quarter. R Squared Ltd acquired a new stake in Lumen Technologies in the fourth quarter valued at approximately $48,000. Seeds Investor LLC purchased a new position in Lumen Technologies in the fourth quarter worth $57,000. HB Wealth Management LLC acquired a new position in shares of Lumen Technologies during the fourth quarter worth $59,000. Finally, Marshall Wace LLP purchased a new stake in shares of Lumen Technologies during the 4th quarter valued at $61,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

NYSE:LUMN opened at $4.28 on Wednesday. The firm’s fifty day moving average is $4.06 and its two-hundred day moving average is $5.44. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -85.48 and a beta of 1.34. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. 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 (NYSE:LUMN) last posted its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company earned ($0.04) earnings per share. Lumen Technologies’s revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. 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 report on Friday, February 21st. Raymond James raised shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price objective for the company in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus target price of $4.58.

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.