Wealthfront Advisers LLC bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 66,249 shares of the technology company’s stock, valued at approximately $352,000.
Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter worth about $1,139,000. Strategic Financial Concepts LLC raised its stake in shares of Lumen Technologies by 430.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock worth $952,000 after acquiring an additional 145,542 shares during the last quarter. Polianta Ltd acquired a new position in shares of Lumen Technologies during the fourth quarter worth approximately $692,000. Mariner Investment Group LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at $531,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Lumen Technologies during the third quarter valued at $433,000. Institutional investors and hedge funds own 66.19% of the company’s stock.
Lumen Technologies Price Performance
Shares of LUMN opened at $4.88 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The stock has a market cap of $4.94 billion, a P/E ratio of -97.48 and a beta of 1.28. The stock’s 50-day moving average price is $5.07 and its two-hundred day moving average price is $6.10.
Analysts Set New Price Targets
Several research firms recently issued reports on LUMN. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a report on Friday, February 21st. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.59.
Check Out Our Latest Research Report on Lumen Technologies
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.
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