HRT Financial LP Takes Position in Lumen Technologies, Inc. (NYSE:LUMN)

HRT Financial LP purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 629,147 shares of the technology company’s stock, valued at approximately $3,284,000. HRT Financial LP owned 0.06% of Lumen Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Patton Fund Management Inc. acquired a new stake in Lumen Technologies during the fourth quarter worth approximately $163,000. CoreCap Advisors LLC grew its stake in Lumen Technologies by 78.1% during the fourth quarter. CoreCap Advisors LLC now owns 27,319 shares of the technology company’s stock worth $143,000 after purchasing an additional 11,983 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Lumen Technologies by 119.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 63,859 shares of the technology company’s stock worth $333,000 after purchasing an additional 34,736 shares during the period. CI Investments Inc. grew its stake in Lumen Technologies by 81.4% during the fourth quarter. CI Investments Inc. now owns 44,767 shares of the technology company’s stock worth $234,000 after purchasing an additional 20,084 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Lumen Technologies during the fourth quarter worth approximately $22,775,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. TheStreet cut Lumen Technologies from a “c” rating to a “d” rating in a research note on Tuesday, February 7th. The Goldman Sachs Group cut their price target on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, February 8th. Citigroup lowered Lumen Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $6.25 to $3.50 in a report on Wednesday, February 8th. Bank of America cut their price target on Lumen Technologies from $4.00 to $2.00 in a report on Thursday, May 4th. Finally, Morgan Stanley cut their price target on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a report on Monday, March 13th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus price target of $5.11.

Lumen Technologies Stock Performance

LUMN stock opened at $1.88 on Friday. Lumen Technologies, Inc. has a twelve month low of $1.85 and a twelve month high of $12.54. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50 day moving average is $2.37 and its 200-day moving average is $4.04.

Lumen Technologies (NYSE:LUMN – Get Rating) last posted its earnings results on Tuesday, May 2nd. The technology company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Lumen Technologies had a negative net margin of 9.89% and a positive return on equity of 8.87%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was down 20.1% compared to the same quarter last year. On average, research analysts predict that Lumen Technologies, Inc. will post 0.4 EPS for the current year.

Lumen Technologies Company Profile

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Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.