31,206 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Alpine Global Management LLC

Alpine Global Management LLC purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 31,206 shares of the technology company’s stock, valued at approximately $166,000.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of 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 buying an additional 4,277 shares during the last quarter. Lazard Asset Management LLC grew its stake in Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock worth $39,000 after buying an additional 7,307 shares during the last quarter. R Squared Ltd bought a new stake in Lumen Technologies during the fourth quarter worth about $48,000. Quantinno Capital Management LP bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $54,000. Finally, Seeds Investor LLC bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $57,000. 66.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LUMN shares. Citigroup raised shares of 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 research note on Wednesday, February 26th. Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday, February 21st. Raymond James raised shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price objective on the stock in a research report on Monday, May 5th. 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 report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $4.58.

Lumen Technologies Trading Down 2.9%

Shares of NYSE:LUMN opened at $3.73 on Friday. The stock has a market capitalization of $3.83 billion, a PE ratio of -74.59 and a beta of 1.34. The company’s 50-day moving average price is $3.85 and its two-hundred day moving average price is $5.22. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. 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 released its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. On average, equities analysts forecast 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.