Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in Lumen Technologies, Inc. (NYSE:LUMN) by 8.6% in the fourth quarter, HoldingsChannel reports. The fund owned 935,386 shares of the technology company’s stock after acquiring an additional 73,841 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Lumen Technologies were worth $4,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Diversified Trust Co purchased a new stake in shares of Lumen Technologies during the fourth quarter worth about $482,000. Franklin Resources Inc. grew its stake in Lumen Technologies by 66.8% during the 3rd quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company’s stock valued at $3,982,000 after acquiring an additional 224,506 shares in the last quarter. Virtu Financial LLC purchased a new stake in Lumen Technologies during the 3rd quarter valued at about $473,000. Neo Ivy Capital Management purchased a new stake in Lumen Technologies during the 3rd quarter valued at about $570,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Lumen Technologies during the 3rd quarter valued at about $125,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on LUMN shares. Citigroup upped their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Finally, TD Cowen decreased their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.66.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $5.65 on Tuesday. The company’s 50-day moving average is $6.49 and its two-hundred day moving average is $5.69. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -2.60 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

About Lumen Technologies

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.