Lumen Technologies, Inc. (NYSE:LUMN) Position Increased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in Lumen Technologies, Inc. (NYSE:LUMN) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,037 shares of the technology company’s stock after purchasing an additional 3,109 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lumen Technologies were worth $207,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LUMN. US Bancorp DE increased its holdings in Lumen Technologies by 18.6% in the third quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after buying an additional 2,350 shares during the last quarter. Van ECK Associates Corp bought a new stake in Lumen Technologies in the third quarter worth approximately $241,000. Atria Investments Inc increased its stake in shares of Lumen Technologies by 47.8% during the 3rd 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 last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Lumen Technologies during the 3rd quarter valued at $433,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Lumen Technologies in the 3rd quarter valued at $2,710,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a research report on Friday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Stock Performance

Shares of LUMN opened at $5.33 on Monday. The company has a market capitalization of $5.40 billion, a PE ratio of -106.48 and a beta of 1.28. 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. The company’s fifty day moving average price is $5.12 and its 200 day moving average price is $6.13.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. As a group, analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies 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.