bLong Financial LLC Invests $110,000 in Lumen Technologies, Inc. (NYSE:LUMN)

bLong Financial LLC bought a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 20,772 shares of the technology company’s stock, valued at approximately $110,000.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Lumen Technologies by 1.7% during the 3rd 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 in the last quarter. Hennessy Advisors Inc. bought a new position in Lumen Technologies during the 4th quarter valued at approximately $45,089,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Lumen Technologies by 9.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock valued at $23,184,000 after buying an additional 294,679 shares in the last quarter. Victory Capital Management Inc. increased its position in Lumen Technologies by 1,081.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock valued at $16,819,000 after buying an additional 2,168,325 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Lumen Technologies during the 3rd quarter valued at approximately $10,062,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LUMN has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup increased their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, TD Cowen cut their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.66.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $4.60 on Friday. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The stock’s fifty day moving average is $5.51 and its 200 day moving average is $6.14. The stock has a market cap of $4.66 billion, a P/E ratio of -91.88 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.79 earnings per share for the current 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.