Stevens Capital Management LP Acquires New Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Stevens Capital Management LP bought a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, Holdings Channel.com reports. The fund bought 14,353 shares of the technology company’s stock, valued at approximately $76,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new position in shares of Lumen Technologies in the 4th quarter worth approximately $45,089,000. Allianz Asset Management GmbH boosted its holdings in Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after buying an additional 1,710,373 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Lumen Technologies by 23.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock worth $21,399,000 after buying an additional 764,523 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Lumen Technologies by 46.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock valued at $11,055,000 after buying an additional 664,823 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Lumen Technologies by 454.1% during the 4th quarter. Quantbot Technologies LP now owns 571,725 shares of the technology company’s stock valued at $3,036,000 after acquiring an additional 468,537 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LUMN has been the topic of a number of recent analyst reports. 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 target for the stock from $8.00 to $6.50 in a research note 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 objective for the company in a research note on Friday, February 21st. 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 company. According to MarketBeat, Lumen Technologies presently has an average rating of “Hold” and an average price target of $4.59.

Lumen Technologies Trading Down 9.9 %

NYSE:LUMN opened at $4.38 on Wednesday. The stock has a market cap of $4.44 billion, a PE ratio of -87.58 and a beta of 1.28. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week 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. The stock’s 50-day moving average is $4.98 and its two-hundred day moving average is $6.07.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate 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 research analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal 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.