Quadrant Capital Group LLC Trims Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Quadrant Capital Group LLC cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,364 shares of the technology company’s stock after selling 3,416 shares during the period. Quadrant Capital Group LLC’s holdings in Lumen Technologies were worth $145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in Lumen Technologies during the fourth quarter worth about $1,139,000. Strategic Financial Concepts LLC increased its stake in shares of Lumen Technologies by 430.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock worth $952,000 after buying an additional 145,542 shares during the period. Polianta Ltd purchased a new stake in shares of Lumen Technologies during the fourth quarter worth approximately $692,000. Mariner Investment Group LLC purchased a new stake in shares of Lumen Technologies during the fourth quarter worth approximately $531,000. Finally, Geode Capital Management LLC increased its stake in shares of Lumen Technologies by 1.7% during the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after buying an additional 383,693 shares during the period. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

LUMN stock opened at $3.79 on Thursday. The company has a market capitalization of $3.89 billion, a P/E ratio of -75.82 and a beta of 1.29. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The business has a 50 day simple moving average of $4.54 and a 200-day simple moving average of $5.85. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. 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 note on Friday, February 21st. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Two equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.59.

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.