Arrowstreet Capital Limited Partnership Lowers Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Arrowstreet Capital Limited Partnership reduced its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,725,190 shares of the technology company’s stock after selling 2,529,276 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.25% of Lumen Technologies worth $67,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC raised its holdings in shares of Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after acquiring an additional 2,489 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after purchasing an additional 2,657 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Lumen Technologies by 15.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock valued at $111,000 after purchasing an additional 2,844 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after purchasing an additional 3,109 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in Lumen Technologies by 14.8% during the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company’s stock valued at $160,000 after buying an additional 3,868 shares during the period. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

LUMN opened at $3.94 on Tuesday. The company has a market cap of $4.04 billion, a P/E ratio of -78.78 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The firm’s 50-day moving average price is $4.85 and its 200-day moving average price is $6.03. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.