Lumen Technologies, Inc. (NYSE:LUMN) Shares Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP grew its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1,545.7% during the fourth quarter, Holdings Channel reports. The firm owned 174,445 shares of the technology company’s stock after acquiring an additional 163,845 shares during the quarter. Dark Forest Capital Management LP’s holdings in Lumen Technologies were worth $926,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LUMN. Virtu Financial LLC purchased a new position in Lumen Technologies during the 3rd quarter valued at about $473,000. Franklin Resources Inc. boosted its stake in shares of Lumen Technologies by 66.8% in the third quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company’s stock valued at $3,982,000 after purchasing an additional 224,506 shares during the period. Diversified Trust Co acquired a new position in shares of Lumen Technologies in the fourth quarter valued at approximately $482,000. Assenagon Asset Management S.A. lifted its holdings in Lumen Technologies by 8.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company’s stock worth $4,967,000 after buying an additional 73,841 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Lumen Technologies in the 4th quarter valued at approximately $45,089,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LUMN has been the topic of a number of recent research reports. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $8.00 to $6.50 in a research 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 on the stock in a research report on Friday, February 21st. Finally, Royal Bank of Canada reiterated 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 investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Trading Up 2.4 %

LUMN opened at $3.28 on Thursday. 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, Inc. has a one year low of $0.97 and a one year high of $10.33. The company has a market cap of $3.36 billion, a P/E ratio of -65.53 and a beta of 1.29. The business’s 50-day simple moving average is $4.23 and its 200-day simple moving average is $5.61.

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 the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

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.