Amundi Has $2.88 Million Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Amundi grew its position in Lumen Technologies, Inc. (NYSE:LUMN) by 188.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 522,434 shares of the technology company’s stock after buying an additional 341,369 shares during the period. Amundi owned 0.05% of Lumen Technologies worth $2,884,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE grew its stake in shares of Lumen Technologies by 18.6% during the third quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,350 shares during the period. Atria Investments Inc grew its stake in shares of Lumen Technologies by 47.8% during the third quarter. Atria Investments Inc now owns 130,480 shares of the technology company’s stock worth $926,000 after purchasing an additional 42,227 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Lumen Technologies during the third quarter worth $433,000. Los Angeles Capital Management LLC acquired a new stake in shares of Lumen Technologies during the third quarter worth $87,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Lumen Technologies during the third quarter worth $183,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price objective 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 price objective for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies 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 $4.88 on Monday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -97.48 and a beta of 1.28. The stock’s 50-day moving average is $5.07 and its 200-day moving average is $6.10. Lumen Technologies, Inc. has a one year low of $0.97 and a one year 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 issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.