120,922 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Voleon Capital Management LP

Voleon Capital Management LP bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, HoldingsChannel.com reports. The firm bought 120,922 shares of the technology company’s stock, valued at approximately $642,000.

A number of other hedge funds have also made changes to their positions in LUMN. Empowered Funds LLC acquired a new stake in Lumen Technologies in the 4th quarter valued at about $1,139,000. Strategic Financial Concepts LLC lifted its holdings in shares of Lumen Technologies by 430.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock valued at $952,000 after purchasing an additional 145,542 shares in the last quarter. Polianta Ltd acquired a new stake in shares of Lumen Technologies in the fourth quarter valued at approximately $692,000. Mariner Investment Group LLC purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $531,000. Finally, Assenagon Asset Management S.A. raised its position in shares of 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 purchasing an additional 73,841 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

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

Lumen Technologies Price Performance

LUMN opened at $3.55 on Friday. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The company’s 50 day simple moving average is $4.09 and its 200 day simple moving average is $5.49. The stock has a market capitalization of $3.63 billion, a PE ratio of -70.89 and a beta of 1.29. 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 (NYSE:LUMN) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Lumen Technologies’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) EPS. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current 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.