Fox Run Management L.L.C. Takes $293,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Fox Run Management L.L.C. purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 55,132 shares of the technology company’s stock, valued at approximately $293,000.

Several other hedge funds also recently added to or reduced their stakes in LUMN. Geode Capital Management LLC boosted its position in shares of Lumen Technologies by 1.7% during the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after buying an additional 383,693 shares during the period. Hennessy Advisors Inc. bought a new position in Lumen Technologies in the 4th quarter valued at $45,089,000. Allianz Asset Management GmbH increased its stake in Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after purchasing an additional 1,710,373 shares during the period. Principal Financial Group Inc. lifted its position in shares of Lumen Technologies by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock worth $26,133,000 after purchasing an additional 128,172 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lumen Technologies by 23.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock valued at $21,399,000 after purchasing an additional 764,523 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company upgraded 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, 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 report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have given 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 target price of $4.59.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $4.09 on Friday. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The business’s fifty day simple moving average is $4.92 and its 200-day simple moving average is $6.05. 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 company has a market cap of $4.14 billion, a PE ratio of -81.68 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Analysts expect 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.