Gotham Asset Management LLC Acquires 30,269 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Gotham Asset Management LLC grew its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,542 shares of the technology company’s stock after buying an additional 30,269 shares during the quarter. Gotham Asset Management LLC’s holdings in Lumen Technologies were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LUMN. Norges Bank bought a new stake in Lumen Technologies during the fourth quarter worth about $63,638,000. Dimensional Fund Advisors LP grew its stake in Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock worth $52,111,000 after buying an additional 7,717,596 shares during the last quarter. Renaissance Technologies LLC grew its stake in Lumen Technologies by 76.3% during the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock worth $61,936,000 after buying an additional 5,049,709 shares during the last quarter. Trexquant Investment LP bought a new stake in Lumen Technologies during the fourth quarter worth about $12,930,000. Finally, Allianz Asset Management GmbH grew its stake in Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after buying an additional 1,710,373 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Raymond James upgraded shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 target price on the stock in a research report on Monday, May 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded shares of 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.58.

Lumen Technologies Trading Down 1.8%

Shares of NYSE LUMN opened at $4.11 on Friday. The company’s 50 day simple moving average is $3.95 and its 200 day simple moving average is $5.32. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The firm has a market capitalization of $4.21 billion, a P/E ratio of -82.08 and a beta of 1.34. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the business posted ($0.04) earnings per share. Lumen Technologies’s revenue was down 3.3% compared to the same quarter last year. On average, analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current 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.