Marshall Wace LLP Invests $54,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Marshall Wace LLP acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 49,300 shares of the technology company’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in Lumen Technologies during the 1st quarter worth $468,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Lumen Technologies by 22.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock worth $3,198,000 after acquiring an additional 401,399 shares during the last quarter. Front Street Capital Management Inc. grew its position in Lumen Technologies by 30.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock worth $12,827,000 after acquiring an additional 2,697,423 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Lumen Technologies by 247.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock worth $1,784,000 after acquiring an additional 814,474 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Lumen Technologies by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company’s stock worth $1,291,000 after acquiring an additional 36,559 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the acquisition, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.68% of the company’s stock.

Lumen Technologies Stock Down 1.3 %

Shares of NYSE:LUMN opened at $6.20 on Monday. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of -0.57 and a beta of 1.19. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day moving average is $5.97 and its 200-day moving average is $2.98. Lumen Technologies, Inc. has a 1 year low of $0.78 and a 1 year high of $7.83.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Equities research analysts predict that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on LUMN shares. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price target for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. Moffett Nathanson upped their price target on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. TD Cowen upped their price target on Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their price target on Lumen Technologies from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.09.

Lumen Technologies Company 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.