Whipplewood Advisors LLC Invests $67,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Whipplewood Advisors LLC bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 12,682 shares of the technology company’s stock, valued at approximately $67,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its stake in Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after purchasing an additional 2,489 shares during the last quarter. Olympiad Research LP acquired a new position in Lumen Technologies in the 4th quarter valued at $107,000. Allianz Asset Management GmbH raised its stake in Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after purchasing an additional 1,710,373 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Lumen Technologies in the 4th quarter valued at $781,000. Finally, Handelsbanken Fonder AB raised its stake in Lumen Technologies by 20.3% in the 4th quarter. Handelsbanken Fonder AB now owns 249,700 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 42,100 shares during the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LUMN. The Goldman Sachs Group upped their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. 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 report on Friday, February 21st. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their target price for the company from $8.00 to $6.50 in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Stock Performance

NYSE LUMN opened at $4.72 on Friday. The stock has a market cap of $4.78 billion, a PE ratio of -94.28 and a beta of 1.28. 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 twelve month low of $0.97 and a twelve month high of $10.33. The stock has a fifty day simple moving average of $5.19 and a 200-day simple moving average of $6.15.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share 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%. Equities analysts anticipate 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.