Counterpoint Mutual Funds LLC Increases Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Counterpoint Mutual Funds LLC grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 12.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 48,408 shares of the technology company’s stock after buying an additional 5,317 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Lumen Technologies were worth $257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Lumen Technologies in the third quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lumen Technologies in the third quarter valued at about $36,000. Smartleaf Asset Management LLC raised its holdings in shares of Lumen Technologies by 173.3% in 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. R Squared Ltd purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at about $48,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at about $59,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LUMN has been the subject of a number of research reports. Royal Bank of Canada reaffirmed 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 target for the company in a report on Friday, February 21st. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average price target of $4.59.

Lumen Technologies Trading Down 3.4 %

Shares of LUMN opened at $4.90 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The firm’s 50-day moving average is $5.04 and its two-hundred day moving average is $6.09. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The firm has a market capitalization of $4.96 billion, a P/E ratio of -97.90 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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%. On average, research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.