Two Sigma Advisers LP Cuts Position in Lumen Technologies, Inc. (NYSE:LUMN)

Two Sigma Advisers LP decreased its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,505,114 shares of the technology company’s stock after selling 1,315,100 shares during the quarter. Two Sigma Advisers LP owned about 0.74% of Lumen Technologies worth $39,852,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Siemens Fonds Invest GmbH purchased a new position in Lumen Technologies in the fourth quarter worth $62,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Lumen Technologies during the 4th quarter worth approximately $549,000. Raiffeisen Bank International AG purchased a new stake in shares of Lumen Technologies during the 4th quarter worth approximately $62,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Lumen Technologies by 1,501.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 82,281 shares of the technology company’s stock worth $437,000 after acquiring an additional 77,142 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Lumen Technologies by 42.0% during the 4th quarter. ProShare Advisors LLC now owns 313,124 shares of the technology company’s stock worth $1,663,000 after acquiring an additional 92,538 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Down 2.9%

LUMN opened at $3.98 on Tuesday. 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 has a market cap of $4.08 billion, a P/E ratio of -79.58 and a beta of 1.34. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The business’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $5.29.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. As a group, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LUMN. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday, February 21st. Finally, Raymond James raised Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 target price on the stock in a report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average price target of $4.58.

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.