Quinn Opportunity Partners LLC Takes Position in Lumen Technologies, Inc. (NYSE:LUMN)

Quinn Opportunity Partners LLC acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 20,000 shares of the technology company’s stock, valued at approximately $106,000.

A number of other institutional investors have also recently bought and sold shares of LUMN. Norges Bank bought a new position in shares of Lumen Technologies during the fourth quarter worth approximately $63,638,000. Hennessy Advisors Inc. bought a new position in Lumen Technologies during the 4th quarter worth $45,089,000. Renaissance Technologies LLC raised its holdings in Lumen Technologies by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock valued at $61,936,000 after acquiring an additional 5,049,709 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Lumen Technologies during the 4th quarter valued at $12,930,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Lumen Technologies by 28.1% during the 4th 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 in the last quarter. Institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

LUMN has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $3.46 on Friday. The company’s 50 day moving average price is $4.48 and its two-hundred day moving average price is $5.80. The firm has a market capitalization of $3.54 billion, a P/E ratio of -69.09 and a beta of 1.29. 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, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating 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 analysts forecast 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.