Smartleaf Asset Management LLC Acquires 4,277 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Smartleaf Asset Management LLC lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 173.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,745 shares of the technology company’s stock after buying an additional 4,277 shares during the period. Smartleaf Asset Management LLC’s holdings in Lumen Technologies were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Lumen Technologies by 8.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after acquiring an additional 3,109 shares during the period. Whipplewood Advisors LLC bought a new stake in Lumen Technologies during the fourth quarter worth about $67,000. Los Angeles Capital Management LLC lifted its position in Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock worth $78,000 after purchasing an additional 2,489 shares during the period. Olympiad Research LP bought a new stake in Lumen Technologies during the fourth quarter worth about $107,000. Finally, Allianz Asset Management GmbH lifted 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 worth $41,366,000 after purchasing an additional 1,710,373 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.88 on Wednesday. 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 one year low of $0.97 and a one year high of $10.33. The company has a market cap of $4.94 billion, a price-to-earnings ratio of -97.48 and a beta of 1.28. The firm has a 50 day simple moving average of $5.11 and a 200 day simple moving average of $6.11.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.59.

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.