Trexquant Investment LP Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Trexquant Investment LP purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,435,026 shares of the technology company’s stock, valued at approximately $12,930,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Lumen Technologies during the 4th quarter worth approximately $63,638,000. Hennessy Advisors Inc. acquired a new position in shares of Lumen Technologies during the fourth quarter worth $45,089,000. Allianz Asset Management GmbH grew its stake in shares of Lumen Technologies by 28.1% in 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 last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Lumen Technologies by 23.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock worth $21,399,000 after purchasing an additional 764,523 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Lumen Technologies by 46.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock worth $11,055,000 after buying an additional 664,823 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LUMN. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research report on Friday, February 21st. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 price objective 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 given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Stock Down 2.2 %

Lumen Technologies stock opened at $3.84 on Wednesday. The company has a market capitalization of $3.93 billion, a PE ratio of -76.68 and a beta of 1.28. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The firm’s fifty day moving average is $4.82 and its 200 day moving average is $6.01. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data 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 net margin of 0.42% and a negative return on equity of 46.17%. As a group, sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 EPS 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.