Amundi Has $2.88 Million Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Amundi boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 188.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 522,434 shares of the technology company’s stock after buying an additional 341,369 shares during the quarter. Amundi’s holdings in Lumen Technologies were worth $2,884,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in Lumen Technologies during the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies during the third quarter worth approximately $36,000. Smartleaf Asset Management LLC increased its position in Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after buying an additional 4,277 shares during the last quarter. R Squared Ltd acquired a new position in Lumen Technologies during the fourth quarter worth approximately $48,000. Finally, HB Wealth Management LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Up 4.8 %

Shares of LUMN stock opened at $4.88 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock has a market cap of $4.94 billion, a P/E ratio of -97.48 and a beta of 1.28. The stock has a 50 day simple moving average of $5.07 and a 200 day simple moving average of $6.10. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (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%. On average, research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUMN has been the topic of several research reports. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Wells Fargo & Company raised 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.59.

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.