Stevens Capital Management LP Makes New $76,000 Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Stevens Capital Management LP bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 14,353 shares of the technology company’s stock, valued at approximately $76,000.

A number of other hedge funds have also made changes to their positions in LUMN. Fox Run Management L.L.C. bought a new stake in Lumen Technologies in the fourth quarter valued at about $293,000. KLP Kapitalforvaltning AS acquired a new position in shares of Lumen Technologies in the 4th quarter worth approximately $1,039,000. AXQ Capital LP acquired a new stake in shares of Lumen Technologies during the 4th quarter valued at approximately $84,000. Sei Investments Co. lifted its stake in Lumen Technologies by 273.0% during the fourth quarter. Sei Investments Co. now owns 177,538 shares of the technology company’s stock worth $943,000 after purchasing an additional 129,945 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Lumen Technologies by 787.2% during the fourth quarter. American Century Companies Inc. now owns 136,961 shares of the technology company’s stock worth $727,000 after purchasing an additional 121,524 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

LUMN has been the topic of a number of research reports. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, 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 report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.59.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.38 on Wednesday. The firm’s 50 day moving average is $4.98 and its two-hundred day moving average is $6.07. The firm has a market capitalization of $4.44 billion, a P/E ratio of -87.58 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 52 week low of $0.97 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate 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%. 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.