Wealthfront Advisers LLC Takes $352,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Wealthfront Advisers LLC acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, Holdings Channel.com reports. The firm acquired 66,249 shares of the technology company’s stock, valued at approximately $352,000.

Several other institutional investors have also modified their holdings of the business. US Bancorp DE lifted its holdings in shares of Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,350 shares in the last quarter. Los Angeles Capital Management LLC raised its position 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 buying an additional 2,489 shares during the last quarter. Avior Wealth Management LLC raised its position in Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after buying an additional 2,657 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Lumen Technologies by 8.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after buying an additional 3,109 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC raised its position in Lumen Technologies by 18.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 24,308 shares of the technology company’s stock valued at $173,000 after buying an additional 3,756 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

Shares of NYSE LUMN 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. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The stock has a 50 day moving average of $5.07 and a 200-day moving average of $6.10. The company has a market capitalization of $4.94 billion, a P/E ratio of -97.48 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping 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%. As a group, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Ratings Changes

LUMN has been the topic of a number of recent research reports. Citigroup raised 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 research report on Wednesday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research report on Friday, February 21st. Two research 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 company presently 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.