Graham Capital Management L.P. Raises Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Graham Capital Management L.P. lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 378.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,910 shares of the technology company’s stock after acquiring an additional 449,298 shares during the quarter. Graham Capital Management L.P. owned 0.06% of Lumen Technologies worth $3,016,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. increased its position in shares of Lumen Technologies by 66.8% in the third quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company’s stock valued at $3,982,000 after buying an additional 224,506 shares in the last quarter. Diversified Trust Co purchased a new position in Lumen Technologies during the 4th quarter valued at about $482,000. Assenagon Asset Management S.A. raised its position in Lumen Technologies by 8.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company’s stock worth $4,967,000 after acquiring an additional 73,841 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at about $45,089,000. Finally, Merit Financial Group LLC purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $111,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LUMN shares. Raymond James upgraded 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. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Wells Fargo & Company upgraded 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, Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.58.

Lumen Technologies Price Performance

LUMN stock opened at $4.39 on Friday. 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 $4.50 billion, a PE ratio of -87.78 and a beta of 1.34. The stock has a 50-day moving average price of $4.03 and a two-hundred day moving average price of $5.40. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33.

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