Catalyst Funds Management Pty Ltd Has $531,000 Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Catalyst Funds Management Pty Ltd boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 2,281.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,000 shares of the technology company’s stock after buying an additional 95,800 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Lumen Technologies were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake 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 acquiring an additional 383,693 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Lumen Technologies during the fourth quarter worth approximately $45,089,000. Allianz Asset Management GmbH grew its position in Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after purchasing an additional 1,710,373 shares in the last quarter. Principal Financial Group Inc. increased its stake in Lumen Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock valued at $26,133,000 after buying an additional 128,172 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lumen Technologies by 23.4% during the 4th 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 buying an additional 764,523 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citigroup raised shares of 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 note 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 research report on Friday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.59.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.88 on Friday. The stock has a market capitalization of $4.94 billion, a P/E ratio of -97.48 and a beta of 1.28. The business has a 50-day moving average of $5.07 and a two-hundred day moving average of $6.09. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last posted 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 return on equity of 46.17% and a negative net margin of 0.42%. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS 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.