Sherbrooke Park Advisers LLC Purchases Shares of 103,351 Lumen Technologies, Inc. (NYSE:LUMN)

Sherbrooke Park Advisers LLC purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 103,351 shares of the technology company’s stock, valued at approximately $549,000.

A number of other hedge funds have also recently modified their holdings of the stock. Northern Trust Corp boosted its stake in shares of Lumen Technologies by 8.6% in the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock worth $65,602,000 after buying an additional 982,206 shares during the last quarter. Norges Bank purchased a new stake in shares of Lumen Technologies in the fourth quarter worth about $63,638,000. Renaissance Technologies LLC boosted its stake in shares of Lumen Technologies by 76.3% in the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock worth $61,936,000 after buying an additional 5,049,709 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lumen Technologies by 368.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock worth $52,111,000 after buying an additional 7,717,596 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Lumen Technologies in the fourth quarter worth about $45,089,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $4.11 on Friday. The business has a 50 day simple moving average of $3.95 and a two-hundred day simple moving average of $5.33. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The stock has a market capitalization of $4.21 billion, a P/E ratio of -82.08 and a beta of 1.34. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year. As a group, analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of recent research reports. Raymond James upgraded Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 target price on the stock in a research note on Monday, May 5th. 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. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Lumen Technologies has an average rating of “Hold” and a consensus 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.