Brevan Howard Capital Management LP Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Brevan Howard Capital Management LP bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 288,785 shares of the technology company’s stock, valued at approximately $1,533,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Empowered Funds LLC bought a new position in Lumen Technologies during the fourth quarter valued at $1,139,000. Strategic Financial Concepts LLC grew its position in Lumen Technologies by 430.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock worth $952,000 after acquiring an additional 145,542 shares in the last quarter. Polianta Ltd purchased a new stake in Lumen Technologies during the fourth quarter valued at approximately $692,000. Mariner Investment Group LLC bought a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $531,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Lumen Technologies by 8.6% in 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 period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $4.28 on Wednesday. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The stock’s fifty day moving average price is $4.06 and its 200-day moving average price is $5.44. The firm has a market cap of $4.38 billion, a P/E ratio of -85.48 and a beta of 1.34. 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 data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.16. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a research report on Friday, February 21st. Finally, Raymond James upgraded Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 target price for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.58.

Lumen Technologies Company 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.