Semanteon Capital Management LP Boosts Position in Lumen Technologies, Inc. (NYSE:LUMN)

Semanteon Capital Management LP boosted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 49.5% in the fourth quarter, Holdings Channel reports. The fund owned 59,612 shares of the technology company’s stock after purchasing an additional 19,737 shares during the quarter. Semanteon Capital Management LP’s holdings in Lumen Technologies were worth $317,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Lumen Technologies during the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Lumen Technologies during the third quarter valued at about $36,000. Smartleaf Asset Management LLC grew its holdings in Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares during the period. R Squared Ltd bought a new stake in Lumen Technologies during the fourth quarter valued at about $48,000. Finally, HB Wealth Management LLC bought a new stake in Lumen Technologies during the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

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

Lumen Technologies Stock Performance

NYSE LUMN opened at $4.94 on Friday. The business has a 50-day moving average price of $5.01 and a 200-day moving average price of $6.07. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -98.68 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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 research analysts predict 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.